Document and Entity Information
Document and Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Mar. 23, 2023 | Jun. 30, 2022 | |
Cover [Abstract] | |||
Registrant Name | Lion Copper and Gold Corp. | ||
Registrant CIK | 0001339688 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Entity File Number | 000-55139 | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Entity Incorporation, State or Country Code | Z4 | ||
Entity Tax Identification Number | 98-1664106 | ||
Entity Address, Address Line One | c/o #1200 - 750 West Pender Street | ||
Entity Address, Address Line Two | British Columbia | ||
Entity Address, City or Town | Vancouver | ||
Entity Address, State or Province | BC | ||
Entity Address, Postal Zip Code | V6C 2T8 | ||
City Area Code | 917 | ||
Local Phone Number | 371-2966 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 16,030,950 | ||
Entity Common Stock, Shares Outstanding | 309,567,975 | ||
Amendment Flag | false | ||
Document Transition Report | false | ||
Entity Ex Transition Period | false | ||
Auditor Firm ID | 1930 | ||
Auditor Name | MNP LLP | ||
Auditor Location | Vancouver, Canada |
Consolidated Balance Sheets
Consolidated Balance Sheets $ in Thousands, $ in Thousands | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) |
Current assets | ||
Cash | $ 1,365 | $ 842 |
Other receivables | 7 | 6 |
Prepaid and deposit | 56 | 43 |
Current assets | 1,428 | 891 |
Mineral properties | 7,884 | 6,821 |
Reclamation bonds | 23 | 35 |
Investment in associate | 1,504 | 0 |
Total assets | 10,839 | 7,747 |
Current liabilities | ||
Accounts payable | 232 | 358 |
Accrued liabilities | 4 | 1,000 |
Rio Tinto Deposit | 613 | 0 |
SAFE Notes | 1,131 | 0 |
Derivative liabilities | 4 | 55 |
Current liabilities | 1,984 | 1,413 |
Convertible debentures | 1,874 | 0 |
Total liabilities | 3,858 | 1,413 |
Stockholders' equity | ||
Share capital, No par value, unlimited common shares authorized; 309,567,975 issued and outstanding (2021 - 293,806,611) | 105,384 | 104,340 |
Additional paid-in capital | 23,043 | 22,012 |
Deficit | (121,834) | (120,018) |
Non-controlling interest | 388 | 0 |
Total stockholders' equity | 6,981 | 6,334 |
Total liabilities and stockholders' equity | $ 10,839 | $ 7,747 |
Consolidated Balance Sheets (pa
Consolidated Balance Sheets (parentheticals) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Financial Position [Abstract] | ||
Common stock, no par value | $ 0 | $ 0 |
Common stock, shares authorized, unlimited | Unlimited | Unlimited |
Common stock, shares issued | 309,567,975 | 293,806,611 |
Common stock, shares outstanding | 309,567,975 | 293,806,611 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Operating Expenses | ||
Exploration expenditures | $ 4,302 | $ 3,642 |
General office | 140 | 58 |
Interest | 144 | 0 |
Insurance | 61 | 30 |
Investor relations and corporate development | 52 | 206 |
Proceeds from Rio Tinto | (3,237) | 0 |
Professional fees | 715 | 493 |
Rent | 14 | 13 |
Salaries and benefits | 733 | 938 |
Share-based payments | 1,173 | 1,077 |
Transfer agent and regulatory | 104 | 108 |
Travel | 54 | 87 |
Operating loss | (4,255) | (6,652) |
Non-operating Income/(expenses) | ||
Fair value (loss) gain on derivative liabilities | 429 | (4) |
Foreign exchange gain | 13 | 11 |
Gain on settlement of debt | 20 | 0 |
Gain on transfer of shares | 19 | 0 |
Accretion expense | (108) | 0 |
Gain on sale of Butte Valley | 2,207 | 0 |
NSR buy-down | 500 | 0 |
Share of loss in associate | (389) | 0 |
Interest and other income | 0 | 8 |
Loss on revaluation of SAFE notes | (364) | 0 |
Realized gain (loss) on marketable securities | 0 | 189 |
Total Non-operating Income/(expenses) | 2,327 | 204 |
Net loss and comprehensive loss for the year | (1,928) | (6,448) |
Net loss and comprehensive loss attributed to: | ||
Stockholders of the Company | (1,816) | (6,448) |
Non-controlling interest | $ (112) | $ 0 |
Loss per share | ||
Basic loss per share | $ (0.01) | $ (0.03) |
Diluted loss per share | $ (0.01) | $ (0.03) |
Weighted average number of shares outstanding | ||
Weighted average number of basic shares of common stock outstanding | 304,538,938 | 239,831,079 |
Weighted average number of diluted shares of common stock outstanding | 304,538,938 | 239,831,079 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Common shares [Member] | Additional paid-in capital [Member] | Deficit [Member] | Non-controlling interest [Member] | Total |
Beginning Balance at Dec. 31, 2020 | $ 101,553 | $ 19,406 | $ (113,570) | $ 7,389 | |
Beginning Balance (Shares) at Dec. 31, 2020 | 218,715,610 | ||||
Stock options and warrants exercised | $ 589 | (266) | 323 | ||
Stock options and warrants exercised (Shares) | 5,885,000 | ||||
Shares issued in settlement agreements | $ 27 | 27 | |||
Shares issued in settlement agreements (Shares) | 403,665 | ||||
Shares issued for private placements | $ 4,128 | 4,128 | |||
Shares issued for private placements (Shares) | 68,802,336 | ||||
Fair value of warrants | $ (1,795) | 1,795 | 0 | ||
Share issuance costs | (162) | 0 | (162) | ||
Share-based payments | 1,077 | 1,077 | |||
Net loss for the year | 0 | (6,448) | (6,448) | ||
Ending Balance at Dec. 31, 2021 | $ 104,340 | 22,012 | (120,018) | $ 6,334 | |
Ending Balance (Shares) at Dec. 31, 2021 | 293,806,611 | 293,806,611 | |||
Shares issued for mineral properties | $ 625 | $ 625 | |||
Shares issued for mineral properties (Shares) | 9,500,000 | ||||
Shares issued to settle debt | $ 181 | 181 | |||
Shares issued to settle debt (Shares) | 2,928,031 | ||||
Shares issued for warrants exercised | $ 149 | (49) | 100 | ||
Shares issued for warrants exercised (Shares) | 2,000,000 | ||||
BCRC issuance of preferred shares | $ 500 | 500 | |||
Grant of RSUs | $ 93 | 93 | |||
Grant of RSUs (Shares) | 1,333,333 | ||||
Share issuance costs | $ (4) | (4) | |||
Share-based payments | 1,080 | 1,080 | |||
Net loss for the year | (1,816) | (112) | (1,928) | ||
Ending Balance at Dec. 31, 2022 | $ 105,384 | $ 23,043 | $ (121,834) | $ 388 | $ 6,981 |
Ending Balance (Shares) at Dec. 31, 2022 | 309,567,975 | 309,567,975 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow $ in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Cash flows used in operating activities | ||
Loss for the year | $ (1,928) | $ (6,448) |
Non-cash transactions: | ||
Interest expense | 144 | 0 |
Gain on settlement of debt | (20) | 0 |
Accretion expense | 108 | 0 |
Fair value loss (gain) on derivative liabilities - warrants | (428) | 4 |
Gain on sale of Butte Valley | (2,207) | 0 |
Gain on transfer of investment shares | (19) | 0 |
Share of loss of investment in associate | 389 | 0 |
Realized loss on marketable securities | 0 | (189) |
Wages settled through transfer of investment shares | 32 | 0 |
Share-based payments | 1,173 | 1,077 |
Loss on revaluation of SAFE notes | 364 | 0 |
Changes in operating assets and liabilities: | ||
Other receivables | (1) | (3) |
Trade payables and other liabilities | (143) | 94 |
Prepaid and deposit | (13) | (38) |
Rio Tinto deposit | 763 | 0 |
Net cash used in operating activities | (1,786) | (5,503) |
Cash flows used in investing activities | ||
Expenditures on mineral properties | (62) | (475) |
Sale of marketable securities | 0 | 830 |
Net (refund)/proceeds from water rights sale | (1,000) | 1,000 |
Sale of Butte Valley property | 500 | 0 |
Proceeds from reclamation bond reduction | 8 | 0 |
Net cash used in investing activities | (554) | 1,355 |
Cash flows provided by financing activities | ||
Convertible debentures | 2,000 | 0 |
Exercise of options and warrants | 100 | 323 |
Proceeds from Issuance of Private Placement | 0 | 4,128 |
Share issuance costs | (4) | (162) |
Proceeds from SAFE notes | 767 | 0 |
Net cash provided by financing activities | 2,863 | 4,289 |
Increase (decrease) in cash | 523 | 141 |
Cash, beginning of year | 842 | 701 |
Cash, end of year | 1,365 | 842 |
Supplemental cash flow information | ||
Shares issued to settle debt | 199 | 27 |
Shares issued for mineral properties | $ 1,124 | $ 0 |
NATURE OF OPERATIONS AND GOING
NATURE OF OPERATIONS AND GOING CONCERN | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE OF OPERATIONS AND GOING CONCERN [Text Block] | 1. NATURE OF OPERATIONS AND GOING CONCERN Lion Copper and Gold Corp. (together with its subsidiaries, "Lion CG" or the "Company") is a Canadian-based Company advancing its flagship copper assets in Mason Valley, Nevada with Rio Tinto America, Inc. The Company is incorporated in British Columbia, Canada. Its registered and records offices are located at 1200 - 750 West Pender Street, Vancouver, British Columbia, Canada, V6C 2T8. On November 22, 2021, the Company changed its name from Quaterra Resources Inc. to Lion Copper and Gold Corp. The shares of the Company commenced trading under the new name at the open of trading on November 23, 2021. The Company's common shares are listed on the TSX Venture Exchange ("TSXV") under the symbol "LEO" and trade on the OTCQB Market under the symbol "LCGMF". The Company acquires its mineral properties through option or lease agreements and capitalizes all acquisition costs related to the properties. The underlying value of the amounts recorded as mineral properties does not reflect current or future values. The Company's continued existence depends on discovering economically recoverable mineral reserves and obtaining the necessary funding to complete the development of these properties. These consolidated financial statements are prepared on a going concern basis, which contemplates that the Company will be able to meet its commitments, continue operations and realize its assets and discharge its liabilities in the normal course of business for at least twelve months from the date of the auditor's report. The Company has incurred ongoing losses and expects to incur further losses in the advancement of its business activities. For the year ended December 31, 2022, the Company incurred a net loss of $1,928 (2021 - $6,448). As at December 31, 2022, the Company had cash of $1,365 (2021 - $842), working capital deficit of $556 (2021 - deficit of $522) and an accumulated deficit of $121,834 (2021 - $120,018). The Company continues to incur losses, has limited financial resources, and has no current source of revenue or cash flow generated from operating activities. To address its financing requirements, the Company plans to seek financing through, but not limited to, debt financing, equity financing and strategic alliances. However, there is no assurance that such financing will be available. If adequate financing is not available or cannot be obtained on a timely basis, the Company may be required to delay, reduce the scope of or eliminate one or more of its exploration programs or relinquish some or all of its rights under the existing option and acquisition agreements. The above factors give rise to material uncertainties that cast substantial doubt on the Company's ability to continue as a going concern. If the going concern assumptions were not appropriate for these consolidated financial statements, then adjustments would be necessary to the carrying values of assets, liabilities, the reported expenses, and the consolidated statement of financial position classifications used. Such adjustments could be material. |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 12 Months Ended |
Dec. 31, 2022 | |
Basis Of Accounting Disclosure [Abstract] | |
BASIS OF PRESENTATION [Text Block] | 2. BASIS OF PRESENTATION Statement of compliance Under U.S. federal securities laws, issuers must assess their foreign private issuer status as of the last business day of their second fiscal quarter. It was announced that more than 50% of the Company's common shares are held by U.S. stockholders, and the Company no longer meets the definition of a foreign private issuer under the United States securities laws. As a result, commencing in 2023, the Company is required to use forms and rules prescribed for U.S. domestic companies, including the requirement that financial statements be presented in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") instead of International Financial Reporting Standards ("IFRS") as issued by the IAASB. The Company's common shares will continue to be listed on the TSX Venture Exchange and quoted on the OTCQB. These consolidated financial statements have been prepared in accordance with U.S. GAAP. These consolidated financial statements have been prepared in accordance with U.S. GAAP effective for the financial year ended December 31, 2022. Comparative figures, which were previously presented in accordance with IFRS as issued by the International Accounting Standards Board have been adjusted as necessary to be compliant with the Company's policies under U.S. GAAP and are further descried in note 3. These consolidated financial statements have been prepared on a historical cost basis except for certain financial instruments which are measured at fair value. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for the cash flow information. The Company consolidates an entity when it has power over that entity, is exposed, or has rights, to variable returns from its involvement with that entity and can affect those returns through its control over that entity. All material intercompany transactions, balances and expenses are eliminated on consolidation. These consolidated financial statements include the financial statements of Lion Copper and Gold Corp., and its subsidiaries: Percentage ownership Subsidiaries December 31, 2022 December 31, 2021 Country of incorporation Quaterra Alaska Inc. ("Quaterra Alaska") 100.0% 100.0% United States Singatse Peak Services, LLC ("SPS") 100.0% 100.0% United States Six Mile Mining Company ("Six mile") N/A 100.0% United States Blue Copper Resources Corp ("BCRC") 79.3% N/A United States Blue Copper LLC 79.3% indirect 100.0% United States On March 30, 2022, Six Mile was dissolved and its assets were transferred to Quaterra Alaska. On December 13, 2022, Quaterra Alaska assigned and transferred 100% of its outstanding interest held in Blue Copper LLC to BCRC. For partially owned subsidiaries, the interest attributable to non-controlling stockholders is reflected in non-controlling interest. |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES [Text Block] | 3. SIGNIFICANT ACCOUNTING POLICIES Accounting estimates and judgments The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the application of policies, reported amounts and disclosures. By their nature, these estimates and judgments are subject to uncertainty and the effect on these consolidated financial statements of changes in such estimates in future years could be significant. Actual results could differ from those estimates. Key sources of estimation uncertainty that has a significant risk of causing material adjustment to the amounts recognized in the consolidated financial statements exist as follows: Share-based payments: Investment in Associate: Fair value of Simple Agreement for Future Equity ("SAFE") notes: Valuation of warrants: Valuation of derivative liabilities: Significant judgments used in the preparation of these consolidated financial statements include, but are not limited to: Mineral properties: Going concern: Taxes: Influence over investment in associate: Valuation of the Arnold, Snowbird, and Montana property Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. a) First-time adoption of U.S. GAAP These Consolidated Financial Statements for the year ended December 31, 2022, are the first the Company has prepared in accordance with U.S. GAAP. The Company previously prepared its financial statements, up to and including nine months ended September 30, 2022, in accordance with International Financial Reporting Standards. Accordingly, the Company has prepared financial statements that comply with U.S. GAAP applicable as at December 31, 2022, together with the comparative year data for the year ended December 31, 2021. In preparing the financial statements, the Company's opening balance sheets were prepared as at January 1, 2021 to provide comparative numbers under U.S. GAAP. This note explains the principal adjustments made by the Company in restating its U.S. GAAP financial statements. Reconciliation of Balance sheets as at January 1, 2021 Notes IFRS Effect of Transition U.S. GAAP U.S. GAAP Assets Current assets Cash $ 701 $ - $ 701 Other receivables 3 - 3 Marketable securities 641 - 641 Prepaid and deposit 5 - 5 1,350 - 1,350 Mineral properties (1) 28,236 (21,958 ) 6,278 Reclamation bonds 34 - 34 Total assets $ 29,620 $ (21,958 ) $ 7,662 Liabilities Current liabilities Accounts payable and accrued liabilities $ 222 $ - $ 222 222 - 222 Derivative liabilities - warrants 51 - 51 Total liabilities 273 - 273 Stockholders' Equity Share capital 101,553 - 101,553 Contributed surplus (2) 19,406 (19,406 ) - Additional paid-in capital (2) - 19,406 19,406 Deficit (1) (91,612 ) (21,958 ) (113,570 ) Total stockholder's equity 29,347 (21,958 ) 7,389 Total liabilities and stockholders' equity $ 29,620 $ (21,958 ) $ 7,662 Reconciliation of financial position as at December 31, 2021 Notes IFRS Effect of Transition to U.S. GAAP U.S. GAAP Assets Current assets Cash $ 842 $ - $ 842 Other receivables 6 6 Prepaid and deposit 43 - 43 891 - 891 Mineral properties (1) 32,203 (25,382 ) 6,821 Reclamation bonds 35 - 35 Total assets $ 33,129 $ (25,382 ) $ 7,747 Liabilities Current liabilities Accounts payable and accrued liabilities $ 1,358 $ - $ 1,358 Derivative liabilities - warrants 55 - 55 Total liabilities 1,413 - 1,413 Stockholders' Equity Share capital 104,340 - 104,340 Contributed surplus (2) 22,012 (22,012 ) - Additional paid-in capital (2) - 22,012 22,012 Deficit (1) (94,636 ) (25,382 ) (120,018 ) Total stockholder's equity 31,716 (25,382 ) 6,334 Total liabilities and stockholders' equity $ 33,129 $ (25,382 ) $ 7,747 Reconciliation of operation results for the year ended December 31, 2021 Notes IFRS Effect of U.S. GAAP U.S. GAAP General administrative expenses General office $ 58 $ - $ 58 Insurance 30 - 30 Investor relations 206 - 206 Professional fees 493 - 493 Rent 13 - 13 Salaries and benefits 938 - 938 Share-based payments 1,077 - 1,077 Transfer agent 108 - 108 Travel 87 - 87 Operating loss (3,010 ) - (3,010 ) Fair value gain on derivative liabilities - warrants (4 ) - (4 ) General exploration (1) (218 ) (3,424 ) (3,642 ) Realized gain on marketable securities 189 - 189 Unrealized gain (loss) on foreign exchange 11 - 11 Interest and other income 8 - 8 (14 ) (3,424 ) (3,438 ) Loss and comprehensive loss for the year $ (3,024 ) $ (3,424 ) $ (6,448 ) Basic and diluted loss per share $ (0.01 ) $ - $ (0.03 ) Basic and diluted weighted average number of shares outstanding 239,831,079 - 239,831,079 Notes to the reconciliations The reconciling items between IFRS and U.S. GAAP presentation have no significant effect on the cash flows generated. Therefore, a reconciliation of cash flows has not been presented above. (1) Mineral properties Under IFRS, the Company capitalized both acquisition and exploration costs relating to the Company's mineral properties. Under U.S. GAAP, the industry standard is to capitalize acquisition costs but expense exploration costs unless a proven or probable reserve can be established at the mineral property. Adjustments has been made to expense previously capitalized exploration costs to be in accordance with U.S. GAAP. (2) Contributed surplus and Additional paid-in capital Under IFRS, share-based payments were presented as contributed surplus. Upon transition to U.S. GAAP, a reclassification adjustment has been made to present the amount as additional paid-in capital. b) Investment in associate is comprised of the Company's investment in Falcon Butte Minerals Corp. ("Falcon Butte"). An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not in control or joint control over those policies. The Company's investment in Falcon Butte is accounted for using the equity method. Under the equity method, the investment in an associate or a joint venture is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Company's share of net assets of the associate since the acquisition date. Goodwill relating to the associate is included in the carrying amount of the investment and is not tested for impairment separately. After application of the equity method, the Company determines whether a loss in the fair value of an investment below its carrying value is a temporary decline. If it is other than temporary, the investor calculates an impairment as the excess of the investment's carrying amount over the fair value. Reversals of impairments on equity method investments are prohibited. Upon loss of significant influence over the associate, the Company measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognized in profit or loss. c) Translation of foreign currencies The functional currency for each of the Company's subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions that determined the primary economic environment. The Company's presentation currency is the U.S. dollar ("$" or "USD"). The functional currency of the Company and its significant subsidiaries is the USD. In preparing the financial statements, transactions in currencies other than an entity's functional currency ("foreign currencies") are recorded at the rates of exchange prevailing at the dates of the transactions. At each balance sheet date, monetary assets and liabilities are translated using the year-end foreign exchange rate. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All gains and losses on translation of these foreign currency transactions are included in the statement of loss. d) Mineral properties Direct costs related to the acquisition of mineral properties held or controlled by the Company are capitalized on an individual property basis until the property transitions to the development stage, is sold, abandoned, or determined to be impaired. Exploration and administration costs are expensed as incurred. The Company classifies its mineral properties as exploration and evaluation assets until the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. At this point, the mineral properties' carrying value is tested for impairment and subsequently transferred to property and equipment. The establishment of technical feasibility and commercial viability of a mineral property is assessed based on a combination of factors, such as the extent of established mineral reserves, the results of feasibility and technical evaluations, and the status of mineral leases or permits. Proceeds from the sale of properties are accounted for as reductions to the capitalized acquisition costs, while property water rights are recorded as other income. Cash proceeds received from farm-out option agreements are recorded as a liability once received and reduced as the obligation to incur expenditures related to the agreement are met. Funds received for expenditures incurred are recorded as other income on the statement of loss and comprehensive loss or as a reduction to the capitalized acquisition costs, depending on the nature of the expenditure incurred. e) Impairment The Company assesses the carrying costs of the capitalized mineral properties for impairment indicators under ASC 360-10, "Impairment of long-lived assets". If impairment indicators are identified, the Company evaluates its carrying value under ASC 930-360, "Extractive Activities - Mining". An impairment is recognized if the sum of the expected undiscounted future cash flows is less than the carrying amount of the mineral properties. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral properties over its estimated fair value. Based on the Company's evaluation, no impairment indicators were identified on the mineral properties for the years ended December 31, 2022 and 2021. f) Share-based payments The fair value of stock options granted to directors, officers, employees and consultants is calculated using the Black Scholes option pricing model and is expensed over the vesting periods. If and when stock options are exercised, the value attributable to the stock options is transferred to share capital. g) Cash Cash consists of cash on hand and bank deposits. As at December 31, 2022, the Company held $15 CAD (2021 - $442 CAD) in bank accounts denominated in CAD. h) Financial instruments Financial instruments are recognized in the balance sheet when the Company becomes a party to a contractual obligation. At initial recognition, the Company classifies and measures its financial instruments as one of the following: held to maturity (amortized cost); available for sale (fair value through other comprehensive income); otherwise, they are classified as trading (fair value through net income). Financial assets are classified and measured at fair value with subsequent changes in fair value recognized in either profit and loss as they arise unless restrictive criteria are met for classifying and measuring the asset at either amortized cost or FVOCI. Financial liabilities are measured at amortized costs unless they are elected to be or required to be measured at fair value through profit and loss. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred, and the Company has transferred all risks and rewards of ownership. Financial liabilities are derecognized when the obligations specified in the contract are discharged, cancelled, or expire. The Company's cash, accounts payable and Rio Tinto deposit approximate fair value due to their short-term nature. The convertible note is classified as a liability at amortized cost, with the conversion feature and related warrants classified as liabilities to be measured at fair value at each reporting period. The debt liability was initially recorded at fair value and is subsequently measured at amortized cost using the effective interest rate method and will be accreted to the face value over the term of the convertible debenture. The SAFE notes are classified as liabilities pursuant to ASC 480 and were measured at fair value at each reporting period, with changes in fair value recorded within the Consolidated Statements of Operations. i) Provisions Provisions are recognized when a present legal or constructive obligation exists as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and the amount of the obligation can be reliably estimated. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, considering the risks and uncertainties surrounding the obligation. The Company had no material provisions as of December 31, 2022 and 2021. j) SAFE Notes The Company issued SAFE notes to investors during the year ended December 31, 2022 and determined that the SAFE notes are not a legal form of debt (i.e., no creditors' rights). The Company allowed for redemption based upon certain events that are outside of the control of the Company. Therefore, the SAFE Instruments were classified as liabilities pursuant to ASC 480 and were measured at fair value at each reporting period, with changes in fair value recorded within the Consolidated Statements of Operations. k) Earnings (loss) per share Basic earnings (loss) per share is calculated using the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method to compute the dilutive effect of options, warrants and similar instruments. Under this method, the dilutive effect on earnings per share is calculated, presuming the exercise of in-the-money outstanding options, warrants and similar instruments. It assumes that the proceeds of such exercise would be used to repurchase common shares at the average market price during the year. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive. l) Income tax Income tax comprises current and deferred tax. Income tax is recognized in net loss, except to the extent it is related to items recognized directly in equity or other comprehensive loss. Deferred tax is recognized in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred tax is determined on a non-discounted basis using tax rates and laws that have been enacted by the reporting date and are expected to apply when the deferred tax asset or liability is settled. Deferred tax assets are recognized to the extent that their recovery is more likely than not. m) Non-controlling interest On December 13, 2022, Quaterra Alaska was issued 57,513,764 common shares of Blue Copper Resources Corp which represented 79.3% of all issued and outstanding shares at December 13, 2022 and December 31, 2022. For partially owned subsidiaries, the interest attributable to non-controlling shareholders is reflected in non-controlling interest. n) Recently Issued Accounting Standards In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40). This update amends the guidance on convertible instruments and the derivatives scope exception for contracts in an entity's own equity and improves and amends the related EPS guidance for both Subtopics. This standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2023, which means it will be effective for our fiscal year beginning April 1, 2024. Early adoption is permitted but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Upon transition to US GAAP, the Company has adopted ASU 2020-06 in the preparation of the consolidated financial statements for the years ended December 31, 2022 and 2021. In November 2021, FASB issued ASU 2021-10, Disclosures by Business Entities about Government Assistance. ASU 2021-10 was issued to increase the transparency of government assistance including the disclosure of (1) the types of assistance, (2) an entity's accounting for the assistance, and (3) the effect of the assistance on an entity's financial statements. Requiring disclosures about government assistance in the notes to financial statements will provide comparable and transparent information to investors and other financial statement users to enable them to understand an entity's financial results and prospects for future cash flows. The amendment applies to all business entities, except those explicitly excluded. The amendments are effective for fiscal years beginning after December 15, 2021 and upon transition to US GAAP, the Company has adopted ASU 2021-10 in the preparation of the consolidated financial statements for the years ended December 31, 2022 and 2021. In May 2021, FASB issued ASU 2021-04, Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. ASU 2021-04 was issued to clarify and reduce diversity in an issuer's accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this Update are effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Upon transition to US GAAP, the Company has adopted ASU 2021-04 in the preparation of the consolidated financial statements for the years ended December 31, 2022 and 2021. |
MINERAL PROPERTIES
MINERAL PROPERTIES | 12 Months Ended |
Dec. 31, 2022 | |
Mineral Industries Disclosures [Abstract] | |
MINERAL PROPERTIES [Text Block] | 4. MINERAL PROPERTIES Total mineral property acquisition costs are listed in the table below: Singatse Peak Services Lion CG Quaterra Alaska Blue Copper Resources Corp (In thousands of U.S dollars) MacArthur Yerington Bear Wassuk Chaco Bear Butte Blue Groundhog Blue Copper Total $ $ $ $ $ $ $ $ $ $ Balance January 1, 2021 2,489 1,195 1,339 1,155 - 100 - - - 6,278 Acquisition costs - - 193 250 - 100 - - - 543 Total additions (disposals) for the year - - 193 250 - 100 - - - 543 Balance December 31, 2021 2,489 1,195 1,532 1,405 - 200 - - - 6,821 Acquisition costs - - 193 - 602 - 118 - 500 1,413 Assignment of Butte Valley - - - - - (200 ) - - - (200 ) Transfer to BCRC - - - - - - (118 ) - 118 - Paid by Rio Tinto - - (150 ) - - - - - - (150 ) Total additions (disposals) for the year - - 43 - 602 (200 ) - - 618 1,063 Balance December 31, 2022 2,489 1,195 1,575 1,405 602 - - - 618 7,884 The Company owns a 100% interest in the MacArthur and Yerington properties. It has an option to earn a 100% interest in the Bear and Wassuk properties in Nevada, and a 100% interest in the Chaco Bear and Ashton property in British Columbia. During the year ended December 31, 2022, the Company: Sold and assigned the Butte Valley option agreements to Falcon Butte Minerals Corp.(Note 4(e)); Transferred its 100% interest in the Blue Copper Project in Montana and its 90% interest in the Groundhog property in Alaska to Blue Copper Resources Corp., an entity in which the Company holds 79% ownership of, which also holds a leased interest in the Arnold, Snowbird & Montana property (Notes 4(d)(e)(g)). Total exploration expenditures recorded on the statement of loss and comprehensive loss are listed in the tables below: Exploration expenditures incurred for the year ended December 31, 2022 Singatse Peak Services Lion CG Quaterra Alaska Blue Copper Resources Corp (In thousands of U.S dollars) MacArthur Yerington Bear Wassuk Chaco Groundhog Butte Valley Blue Copper Groundhog Blue Copper Total $ $ $ $ $ $ $ $ $ $ $ Property maintenance 167 64 - 55 - - 2 161 107 41 597 Assay & Labs 86 33 - - - - - - - - 119 Drilling 478 437 - - - - - - - - 915 Environmental 292 489 - - - - - 11 - - 792 Geological & mapping 1 - - - 18 - - 25 - - 44 Geophysical surveys 61 1 5 - - - 11 59 - 35 172 Technical study 341 411 - - - - - - - - 752 Field support 635 16 - - - 44 10 56 - 150 911 Total expenses incurred 2,061 1,451 5 55 18 44 23 312 107 226 4,302 Total Expenditures funded by Rio Tinto (1,637 ) (1,394 ) - (55 ) - - - - - - (3,086 ) Total Expenditures funded by Lion CG 424 57 5 - 18 44 23 312 107 226 1,216 Exploration expenditures incurred for the year ended December 31, 2021 (In thousands of U.S dollars) MacArthur Yerington Bear Wassuk Chaco Bear & Ashton Groundhog Butte Valley Blue Copper Total $ $ $ $ $ $ $ $ $ Property maintenance 159 69 - 55 - 98 147 401 929 Assay & Labs 231 - - - - - - - 231 Drilling 892 - - 47 - - 500 - 1,439 Environmental 43 142 - - - - - - 185 Geological & mapping 22 - - - 160 - - 16 198 Geophysical surveys 20 - 63 - - - 47 15 145 Technical study 276 11 - - - 1 - - 288 Field support 46 5 - 3 - 67 59 47 227 Total expenses incurred 1,689 227 63 105 160 166 753 479 3,642 a) On February 24, 2021, the Company entered into a purchase and sale agreement to sell certain primary groundwater rights to Desert Pearl Farms LLC ("Desert Pearl"), a Yerington-based company involved in agriculture, for $2,910 (the "Purchase and Sale Agreement"). In early March, 2021, the Company filed an application with the State of Nevada Division of Water Resources ("NDWR") to change the manner of use of the water rights from mining to agriculture and their place of use ("Change Application"). The Change Application was subsequently withdrawn on October 17, 2022. Under the terms of the Purchase and Sale Agreement, Desert Pearl made a $1,000 initial payment to the Company on March 5, 2021. On May 26, 2022, the company announced it had reached an amicable agreement with Desert Pearl Farms to terminate the contract on the sale of the Company's water rights. As a consequence of the termination, the Company will recover the water permit designated for mining and milling use. The $1,000 deposit has been returned to Desert Pearl Farms. This water permit is currently subject to court proceedings and settlement discussions between the Company and the State of Nevada, as discussed in the following paragraph. On July 23, 2021, the Company received a notice from the State of Nevada that three water rights permits had been forfeited. Further, the application for an extension of time to prevent forfeiture of a fourth certificate was denied. The Company is vigorously appealing the State's decision and hired legal counsel to challenge and reverse the State's decision. As discussed in the previous paragraph, one of the permits affected by the State's letter was subject to the Purchase and Sale Agreement announced on February 24, 2021. On August 20, 2021, the Company filed a Petition for Judicial Review of the Forfeiture Notice and has retained legal counsel to vigorously undertake the appeal process. SPS subsequently filed and was granted a Stay of the Forfeiture Notice on September 15, 2021. SPS filed its Opening Brief on March 28, 2022. The State Engineer filed its Answering Brief on July 8, 2022. SPS filed its Reply Brief on August 25, 2022. A hearing regarding the status of the forfeiture appeal was held in the Third Judicial Court District in Lyon County on November 4, 2022. On December 6, 2022, the Judge remanded the case back to the State for further written findings based on issues raised at the hearing. The Company has not received a response from the State since the Remand Order was issued. Since receipt of the Forfeiture Notice, SPS has been in contact with the State Engineer's office in an attempt to resolve the Forfeiture Notice. On May 15 2022, the Company and Rio Tinto America mutually agreed on a Stage 1 program of work with funding supplied by Rio Tinto to be applied against the Company's MacArthur and Yerington properties as work progresses (Notes 4(h), 6). b) The Company has five option agreements, entered from March 2013 to May 2015, to acquire a 100% interest in private land in Yerington, Nevada, collectively known as the Bear deposit. Under the terms of these option agreements, as amended, the Company is required to make $5,673 in cash payments over 15 years ($5,222 paid) to maintain the exclusive right to purchase the land, mineral rights, and certain water rights and to conduct mineral exploration on these properties. Two of the properties are subject to a 2% NSR upon commencing commercial production, which can be reduced to a 1% NSR in consideration of $1,250 total. Outstanding payments to keep the five option agreements current are as follows, by year: $193 due 2022 (paid); $201 due in 2023; $50 due in years 2024 to 2028. Outstanding purchase payments under the five option agreements are as follows: $1,250 for Taylor, purchase option expiring April 4, 2023. The Company is in the process of negotiating an extension; $250 for Chisum, purchase option has no expiration date, $50 per year payment required for continuation; $5,000 for Yerington Mining, purchase option expiring in 2024; $8,975 for Circle Bar N, purchase option expiring in 2024; $22,770 for Desert Pearl Farms, purchase option expiring in 2029. On May 15, 2022, the Company and Rio Tinto America mutually agreed on a Stage 1 program of work with funding supplied by Rio Tinto to be applied against the Company's Bear property as work progresses (Notes 4(h), 6). c) The Wassuk property consists of 310 unpatented lode claims totaling approximately 6,400 acres on lands administered by the BLM. The Company has completed all requirements to earn a 100% interest in certain unpatented mining claims in Lyon County, Nevada, ($1,405 in cash payments and a work commitment of $50). During 2021, two final option payments were paid and form part of the total payments of $1,405. As at December 31, 2021, the Company had satisfied all conditions required to execute the option to purchase and on January 14, 2023, the option was executed (Note 20). The property is subject to a 3% NSR upon commencing commercial production, which can be reduced to a 2% NSR royalty in consideration of $1,500. On May 15, 2022, the Company and Rio Tinto America mutually agreed on a Stage 1 program of work with funding supplied by Rio Tinto to be applied against the Company's Wassuk property as work progresses (Notes 4(h), 6). d) On April 20, 2017, the Company entered a lease with option to purchase agreement with Chuchuna Minerals Company ("Chuchuna") to earn a 90% interest in the Groundhog copper prospect, located two hundred miles southwest of Anchorage, Alaska. During the year ended December 31, 2021, the lease agreement was further extended from six to seven years, providing the Company more time to make the required exploration expenditures and lump sum payment. To earn the 90% interest, the Company must fund a total of $5,000 ($2,839 funded) of exploration expenditures and make a lump sum payment to Chuchuna of $3,000 by the end of April 20, 2024. The Company can terminate the Agreement at its discretion. The property is subject to a 1.75% NSR upon commencing commercial production, which can be reduced to a 0.875% NSR royalty in consideration of $25,000. On December 13, 2022, the Groundhog property was transferred from Quaterra Alaska to BCRC (Note 7). e) On January 26, 2022, the Company entered into a property acquisition agreement to sell and assign its options to acquire the Butte Valley property to Falcon Butte Minerals Corp. (formerly 1301666 B.C. Ltd, or "Falcon Butte.") which is a private British Columbia company established to acquire mineral resource properties. Pursuant to the agreement, Lion CG's 100% owned subsidiary Quaterra Alaska was granted an equity position in Falcon Butte (Note 5). In addition, Quaterra Alaska will maintain a 1.5% NSR on each of the Butte Valley optioned properties, which is subject to a buy-down to a 1.0% NSR in exchange for a payment of $7,500 per property ("Butte Valley Royalty"). On April 5, 2022, the Company completed the assignment of the two option agreements for the Butte Valley Property and the Company received 16,049,444 common shares of Falcon Butte with a fair value of $1,906 and $500 cash for the property, resulting in a gain on sale of $2,207 (Note 5, 13). On April 13, 2022, the Company amended the agreement. Pursuant to the addendum Falcon Butte was to pay a total of $500 in exchange for a 0.5% buy-down and retirement of certain NSRs held by the Company. As of December 31, 2022, the Company has received the full consideration of $500, which is recorded as other income. On December 13, 2022, the Butte Valley Royalty rights were transferred from Quaterra Alaska to BCRC (Note 7). f) On August 25, 2021, the Company entered into a non-binding letter of intent (the "LOI") with Houston Minerals Ltd. ("Houston") setting forth the terms of an option whereby the Company may acquire a 100% interest in the Chaco Bear Property located directly east of the Golden Triangle of British Columbia, and the Ashton Property located near Lytton, British Columbia (Collectively, the "Properties"). Under the terms of the LOI, the Company and Houston proposed to enter into a definitive agreement whereby the Company can earn up to a 100% interest in the Properties by making the following issuances and payments over a four-year period: issuing 8,000,000 common shares of the Company on closing (issued on March 17, 2022); making annual lease payments on the Properties after 2021; incurring CAD$150 of exploration expenditures on the Chaco Bear Property and CAD$50 of exploration expenditures on the Ashton Property before the end of 2021 for CAD$200 (paid); incurring exploration expenditures of at least the value of the annual assessment multiplied by 1.5 for periods after 2021 (claims were renewed and extended through to early 2025, resulting in no obligation on exploration expenditures until 2024); paying CAD$1,500 for the Chaco Bear Property and CAD$1,000 for the Ashton Property on or before 4 years from the closing, which amounts are payable in cash or common shares of the Company; and making annual advance royalty payments in the fourth and fifth year from the closing in the amounts of CAD$250 on the Chaco Bear Property and CAD$150 on the Ashton Property. On September 17, 2021, the parties agreed to an amendment to the LOI to include a 2.5% NSR on each property. Prior to feasibility, the Company may reduce the NSR to 1.0% on the Chaco Bear Property in consideration for a payment of CAD$6,000 and 1.0% on the Ashton Property for a payment of CAD$3,000. Post feasibility, the Company may purchase the remaining 1.0% NSR on the Chaco Bear Property for CAD$12,000 and the remaining 1.0% NSR on the Ashton Property for CAD$6,000. On January 26, 2022, the Company entered into an option agreement with Houston Minerals Ltd. to replace the LOI dated August 25, 2021. Pursuant to the terms of the option agreement, the Company may acquire a 100% interest in the Chaco Bear Property located directly east of the Golden Triangle of British Columbia, and the Ashton Property located near Lytton, British Columbia, subject to a 2.5% net smelter returns royalty. The terms of the option agreement are unchanged from the LOI except that the term of the option has changed from a four year period to a ten year period and annual advance royalty payments in the amounts of CAD$250 on the Chaco Bear Property and CAD$150 on the Ashton Property are to be paid starting on the fifth year from closing through to the ninth year from closing instead of only in the fourth and fifth years from the closing. All other consideration terms remain unchanged. In addition, commencing on January 31, 2022, and on January 31 of each year thereafter during the Option Period, Lion CG shall pay the following option maintenance fees to Houston: (a) CAD$60 in respect of the Chaco Bear Property; and (b) CAD$40 in respect of the Ashton Property. Lion CG funded an initial work program in 2021 of CAD$200 on the Properties in consideration for the grant of the Option, and on March 16, 2022, the transaction was closed. The Company may exercise the Option for a period of up to ten years to acquire (i) the Chaco Bear property by paying CAD$1,500 to Houston, in cash or in common shares of the Company at the Company's option; and/or (ii) the Ashton Property by paying CAD$1,000 to Houston in cash or in common shares of the Company at the Company's option, and in either case common shares will be valued using the volume weighted average trading price of the Company's common shares for the twenty trading day period ending three trading days prior to the date of issuance of such Lion CG shares, with such cash payments being subject to a discount of between 5% and 15% based on the timing of exercise and cumulative exploration expenditures incurred as at the time of exercise. Houston will retain a 2.5% net smelter returns royalty on any of the Properties for which an Option has been exercised by the Company. g) During the year ended December 31, 2021, Blue Copper LLC acquired and staked a district scale exploration and resource discovery opportunity (the "Blue Copper Prospect"), comprising more than 7,430 acres in Powell County and Lewis & Clark County in Montana, USA. The area is prospective for high grade copper-gold skarns and porphyry copper-gold mineralization. The claim block encompasses a group of more than fourteen historic small mines that produced high grade gold, copper, and tungsten. As a part of the transaction, Blue Copper LLC entered into a purchase agreement with Four O Six Mining & Exploration LLC to acquire certain existing and additional unpatented mining claims. In exchange for the unpatented mining claims, as part of the closing of the transaction, the Company issued 1,500,000 common shares of the capital of the Company (Note 11) and provided a NSR of 2.0% with a buy-down of 1% NSR for $1,500. Blue Copper LLC has staked an additional 131 claims to expand the Blue Copper Prospect. The Company has provided a NSR of 2% with a buy-down of 1% NSR for $600 to Four O Six Mining & Exploration LLC for these claims. On February 14, 2022, as a part of the Blue Copper Prospect transaction, the Company issued 1,500,000 common shares as part of the closing of the transaction (Note 11). On December 13, 2022, Quaterra Alaska's interest in Blue Copper LLC was transferred to BCRC (Note 7). On October 28, 2022, prior to the transaction in Note 7, Blue Copper LLC entered into a mining lease agreement with Snowshoe Creek LLC ("Snowshoe"), a Montana limited liability company owned by the CEO of the of the Company. Pursuant to the Agreement, Snowshoe will lease the Arnold, Snowbird and Montana property, including the patented mining claims on such property, to Blue Copper LLC for a term of 20 years and extendable on sole discretion of Blue Copper LLC. Blue Copper LLC has the ability to extend the term in 12-month increments upon providing written notice no later than 180 days prior to the expiration of the current term (Note 19). As consideration, 15,000,000 preferred stock in Blue Copper Resources Corp. was issued to the CEO of the Company. The transaction was measured using the fair value of the asset received as the cost was more clearly evident. The fair value of the asset received was calculated using the original cost incurred to acquire the property and was determined to be $500. h) On March 18, 2022, the Company entered into an Option to Earn-in Agreement with Rio Tinto America Inc. ("Rio Tinto") to advance studies and exploration at Lion CG's copper assets in Mason Valley, Nevada. Under the agreement, Rio Tinto has the option to earn a 65% interest in the assets, comprising 34,494 acres of land, including the historic Yerington mine, greenfield MacArthur Project, Wassuk property, the Bear deposit, and associated water rights (the "Mining Assets"). In addition, Rio Tinto will evaluate the potential commercial deployment of its Nuton™ technologies at the site. Nuton™ offers copper heap leaching technologies developed by Rio Tinto to deliver greater copper recovery from mined ore and access new sources of copper such as low-grade sulphide resources and reprocessing of stockpiles and mineralized waste. The technologies have the potential to deliver leading environmental performance through more efficient water usage, lower carbon emission, and the ability to reclaim mine sites by reprocessing waste. The stages of the Agreement are set out below. Stage 1 Rio Tinto will pay up to four million U.S. dollars ($4,000) for an exclusive earn-in option and agreed-upon Mason Valley study and evaluation works to be completed by Lion CG no later than December 31, 2022 (Note 6). Stage 2 Within forty-five (45) days of the completion of Stage 1, Rio Tinto will provide notice to Lion CG whether Rio Tinto elects to proceed with Stage 2, upon which Rio Tinto will pay up to five million U.S. dollars ($5,000) for agreed-upon Mason Valley study and evaluation works to be completed by Lion CG within 12 months from the date that the parties agree upon the scope of Stage 2 work. Stages 1 and 2 may be accelerated at Rio Tinto's option. Stage 3 - Feasibility Study Within sixty (60) days of the completion of Stage 2, Rio Tinto shall provide notice to Lion CG whether Rio Tinto will exercise its Option and fund a Feasibility Study based on the results of the Stage 1 and Stage 2 work programs. Rio Tinto will fully-fund the Feasibility Study and ancillary work completed by Lion CG in amount not to exceed fifty million U.S. dollars ($50,000). Investment Decision Upon completion of the Feasibility Study, Rio Tinto and Lion CG will decide whether to create an investment vehicle into which the Mining Assets will be transferred, with Rio Tinto holding not less than a 65% interest in the investment vehicle. • • Project Financing • • • On April 27, 2022, the Company TSX Venture Exchange approved the Company's Option to Earn-in Agreement with Rio Tinto America Inc. On May 17, 2022, Rio Tinto approved the Stage 1 Work Program and provided $4,000 to the Company for the development of the Mason Valley projects, which has been completed as of December 31, 2022. The remaining funds of the $4,000 will be spent per agreement with Rio Tinto in 2023 for Stage 2. (Note 6). Subsequent to December 31, 2022, the Company reached an agreement with Rio Tinto on the scope of the Stage 2 Program of Work. As a result, the Company received $7,500, comprising of $5,000 for Stage 2 work and $2,500 as an immediate advance on part of the Stage 3 financing. |
INVESTMENT IN ASSOCIATE
INVESTMENT IN ASSOCIATE | 12 Months Ended |
Dec. 31, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
INVESTMENT IN ASSOCIATE [Text Block] | 5. INVESTMENT IN ASSOCIATE On April 5, 2022, the Company received 16,049,444 shares in Falcon Butte Minerals Corp. (formerly 1301666 BC Ltd., "Falcon Butte"), which is a private British Columbia company established to acquire mineral resource properties, in connection with a property acquisition agreement to assign the Company's options to acquire the Butte Valley property (Note 4). At the time of acquisition, the 16,049,444 shares represented 25.54% of shares outstanding, and as at December 31, 2022, the Company's share ownership was reduced to 19.44%. The Company and Falcon Butte have common directors and managerial personnel, as such, management has assessed that the Company has significant influence over Falcon Butte and that the investment should be accounted for using the equity method of accounting. The opening balance of the investment was determined to be $1,906 ($2,374 CAD) which represents the fair value of the shares received. The value of the shares was determined based on Falcon Butte's unit financing that closed concurrently with the property acquisition using Goal Seek analysis to determine the value of the shares. This analysis required various estimates such as volatility which was estimated to be 100%, and discount rate estimated to be 0.02%. The Company's share of net loss for the period from acquisition on April 5, 2022 to December 31, 2022 is $389. The portion of net loss attributable to the Company was determined based on the percentage of the Company's ownership throughout the period. On December 8, 2022, the Company transferred 116,071 shares of Falcon Butte to the CEO of the Company, pursuant to amended terms of the CEO's employment agreement. The cost value of the shares associated with the transfer was determined to be $13 and a gain of $19 was recorded on the transaction. Summarized financial information of Falcon Butte and a reconciliation of the carrying amount of the investment in the consolidated financial statements are set out below: Summarized statement of loss (Expressed in thousands of U.S. Dollars) Period from April 5 to December 31, 2022 Operating expenses General and administrative expenses $ 3,313 Total operating expenses 3,313 Gain on settlement of debt (100 ) Fair value loss on derivative liability 4 Other income (1,093 ) Foreign exchange (gain) (396 ) Net loss $ 1,728 A continuity of the Company's investment in associate is as follows: Balance December 31, 2021 $ - Initial investment 1,906 Transfer of shares to the CEO (13 ) Company's share of net loss (389 ) Balance December 31, 2022 $ 1,504 |
RIO TINTO DEPOSIT
RIO TINTO DEPOSIT | 12 Months Ended |
Dec. 31, 2022 | |
Deposit Liabilities [Abstract] | |
RIO TINTO DEPOSIT [Text Block] | 6. RIO TINTO DEPOSIT On May 15, 2022, the Company received $4,000 in connection to Stage 1 of the option to Earn-in Agreement with Rio Tinto America Inc (Note 4 (h)). The Company and Rio Tinto America mutually agreed on the Stage 1 program of work and the balance of the deposit will be applied against the Company's Yerington, MacArthur, Wassuk property, and Bear mineral properties as work progresses. On January 5, 2023, the Company announced it had completed the Stage 1 Program of Work pending final approval of expenditures by Rio Tinto. A continuity of the Company's Rio Tinto deposit is as follows: Balance December 31, 2021 $ - Proceeds received 4,000 Funds applied to capitalized acquisition costs (Note 4) (150 ) Funds applied to exploration expenditures (Note 4) (3,086 ) Funds applied to general operating expenditures (151 ) Balance December 31, 2022 $ 613 |
NON-CONTROLLING INTEREST
NON-CONTROLLING INTEREST | 12 Months Ended |
Dec. 31, 2022 | |
Noncontrolling Interest [Abstract] | |
NON-CONTROLLING INTEREST [Text Block] | 7. NON-CONTROLLING INTEREST On December 13, 2022, Quaterra Alaska assigned and transferred all right, title and interest in the Groundhog property, Butte Valley Royalty, 100% of the outstanding membership interest held in Blue Copper LLC, and the interest in the Nieves project to Blue Copper Resources Corp. As consideration, on the date of transfer of assets to Blue Copper Resources Corp, Quaterra Alaska was issued 57,513,764 common shares of Blue Copper Resources Corp which represented 79.3% of all issued and outstanding shares at December 13, 2022 and December 31, 2022. This transaction was considered a transaction between entities under common control, and thus was recorded at carrying value. The following table summarizes the balance recognized as NCI during the year ended December 31, 2022: Balance December 31, 2021 $ - Preferred stock issued for the Arnold, Snowbird & Montana property 500 Net loss and comprehensive loss attributable to NCI (112 ) Balance December 31, 2022 $ 388 |
DERIVATIVE LIABILITIES
DERIVATIVE LIABILITIES | 12 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE LIABILITIES [Text Block] | 8. DERIVATIVE LIABILITIES Warrants & Conversion Feature Derivative Liability As at December 31, 2021, the Company had certain outstanding share purchase warrants that are exercisable in a currency different from the Company's functional currency. These warrants were classified as derivative liabilities and carried at fair value and revalued at each reporting date. These warrants expired during the twelve months ended December 31, 2022 and thus, the derivative liability attached to these warrants have been reduced to $nil. During the year ended December 31, 2022, the Company issued certain share purchase warrants and issued convertible debt with a conversion feature that are both exercisable in a currency different from the Company's functional currency (Note 9). The warrants and the conversion feature were classified as derivative liabilities, carried at fair value and revalued at each reporting date. A continuity schedule of the Company's derivative liabilities is as follows: Balance December 31, 2020 $ 51 Fair value change on derivative liabilities 4 Balance December 31, 2021 55 Expiry of warrants (55 ) Issuance of Warrants (Note 9) 247 Issuance of convertible debentures with conversion feature (Note 9) 131 Fair value change on derivative liabilities (374 ) Balance December 31, 2022 $ 4 |
CONVERTIBLE DEBENTURES
CONVERTIBLE DEBENTURES | 12 Months Ended |
Dec. 31, 2022 | |
Convertible Debt [Abstract] | |
CONVERTIBLE DEBENTURES [Text Block] | 9. CONVERTIBLE DEBENTURES On June 17, 2022, the Company closed the first tranche of its non-brokered private placement of unsecured convertible debentures for gross proceeds of $1,075 (Note 12). The debentures bear interest at a rate of 14% per annum and mature on February 17, 2024 and are convertible into shares of the Company at $0.067 ($0.085 CAD) per share until June 17, 2023 and thereafter at $0.078 ($0.10 CAD) per share. The holder also has the option to elect at any time prior to the election date to be repaid by way of shares the Company owns of Falcon Butte (Note 5) at the rate of $0.25 per Falcon Butte share. In conjunction with the first tranche of the convertible debt financing, the Company issued 16,044,774 warrants. The warrants are exercisable into one common share of the Company at $0.067 ($0.085 CAD) per share and expire on February 17, 2024. The convertible debentures were determined to be a financial instrument comprising a host debt component, a conversion feature classified as a derivative liability, and freestanding warrants classified as a derivative liability. The warrants and conversion features were determined to be derivative liabilities because the exercise prices are denominated in both the functional currency of the Company and a foreign currency. Thus, the instrument fails to meet the criterion of an equity instrument that states that the instrument must be indexed to its own stock. On initial recognition, the warrants and the conversion feature were fair valued, with the proceeds first allocated to the freestanding warrants, then the conversion feature. The residual proceeds are then allocated to the host debt component with an effective interest rate of 27.90%. Regarding the warrant and conversion feature, the volatility input was calibrated such that the conversion feature, warrants, and host debt component, on issuance date, equates proceeds. The fair values of the freestanding warrants and conversion features were calculated to be $143 and $77, respectively, and the fair value allocated to the host debt component was $855. On July 8, 2022, the company closed the second tranche of its non-brokered private placement of unsecured convertible debentures for gross proceeds of $925 (Note 12). The debentures bear interest at a rate of 14% per annum and mature on March 8, 2024 and are convertible into shares of the Company at $0.067 ($0.085 CAD) per share until July 8, 2023 and thereafter at $0.078 ($0.10 CAD) per share. The holder also has the option to elect at any time prior to the election date to be repaid by way of shares the Company owns of Falcon Butte (Note 5) at the rate of $0.25 per Falcon Butte share. In conjunction with the second tranche of the convertible debt financing, the Company issued 13,805,964 warrants. The warrants are exercisable into one common share of the Company at $0.067 ($0.085 CAD) per share and expire on March 8, 2024. The convertible debentures were determined to be a financial instrument comprising a host debt component, a conversion feature classified as a derivative liability, and freestanding warrants classified as a derivative liability. On initial recognition, the warrants and the conversion feature were fair valued, with the proceeds first allocated to the freestanding warrants, then the conversion feature. The residual proceeds are then allocated to the host debt component with an effective interest rate of 14%-27.46%. Regarding the warrant and conversion feature, the volatility input was calibrated such that the conversion feature, warrants, and host debt component, on issuance date, equates proceeds. The fair values of the freestanding warrants and conversion features were calculated to be $104 and $54, respectively, and the residual value allocated to the host debt component was $767. The fair value of the warrants were determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows: At initial recognition Risk-free interest rate 3.20% - 3.26% Expected volatility 10% Dividend yield 0% Expected life 1.36 - 1.67 years The fair value of the conversion feature was determined using the Black-Scholes Option Pricing Model using the assumptions set out as follows: At initial recognition Risk-free interest rate 3.20% - 3.84% Expected volatility 10% Dividend yield 0% Expected life 1.36 - 1.67 years A continuity schedule of the Company's convertible debt is as follows: Balance as at January 1, 2022 $ - Issued 2,000 Fair value of conversion feature (131 ) Fair value of warrants (247 ) Accretion 108 Interest 144 Balance as at December 31, 2022 $ 1,874 |
SIMPLE AGREEMENT FOR FUTURE EQU
SIMPLE AGREEMENT FOR FUTURE EQUITY | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
SIMPLE AGREEMENT FOR FUTURE EQUITY [Text Block] | 10. SIMPLE AGREEMENT FOR FUTURE EQUITY During the year ended December 31, 2022, Blue Copper Resources Corp. raised $198 with a valuation cap of $1,450 and $569 with a valuation cap of $4,120, respectively, by entering into Simple Agreement for Future Equity Notes ("SAFE Note") with several parties. The valuation cap provides the basis for the price at which the SAFE notes are converted into common stock of BCRC. The SAFE Notes resulted in cash proceeds to the Company in exchange for the right to stock of the Company, or cash at a future date in the occurrence of certain events, as follows: If there is an equity financing before the expiration or termination of the instrument, the Company will automatically issue to the investor, a number of shares of common stock equal to the purchase amount divided by the conversion price. The conversion price is equal to the price per share equal to the Valuation Cap divided by the Company capitalization immediately prior to the transaction. If there is a liquidity event before the expiration or termination of the instrument, the investor will, at its option, either (i) receive a cash payment equal to the purchase amount, or (ii) automatically receive from the Company a number of shares of common stock equal to the purchase amount divided by the liquidity price, if the investor fails to select the cash option. If there is a dissolution event before the instrument expires or terminates, the Company will pay an amount equal to the purchase amount, due and payable to the investor immediately prior to, or concurrent with, the consummation of the dissolution event. The SAFE notes were classified as liabilities pursuant to ASC 480 as certain redemptions are based upon the occurrence of certain events that are outside of the control of the Company, and were measured at fair value at each reporting period, with changes in fair value recorded within the Consolidated Statements of Operations. A continuity of the Company's SAFE notes are as follows: Balance as at January 1, 2022 $ - Issued 767 Loss on change in fair value of SAFE notes 364 Balance as at December 31, 2022 $ 1,131 |
SHARE CAPITAL
SHARE CAPITAL | 12 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
SHARE CAPITAL [Text Block] | 11. SHARE CAPITAL The Company is authorized to issue an unlimited number of common shares without par value. Share transactions for the year ended December 31, 2022 a) b) c) d) e) f) g) Share transactions for the year ended December 31, 2021 a) Each Unit of the Private Placement is comprised of one common share (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share of the Company at a price of $0.10 per Common Share within a period of three years from the date of closing. The Warrants contain a forced exercise provision if the daily volume weighted average trading price of the Common Shares of the Company on the TSX Venture Exchange is equal to or greater than $0.30 for a period of ten consecutive trading days. In connection with the completion of the first tranche of the Private Placement, the Company paid a total of $23 and issued 382,900 finder's warrants as finder's fees. The finder's warrants will be exercisable at $0.10 per share for a period of 3 years from the date of closing. b) In connection with the completion of the second tranche of the Private Placement, the Company paid a total of $17 and issued 289,240 finder's warrants as finder's fees to PI Financial Corp. and Haywood Securities Inc. The finder's warrants will be exercisable at $0.10 per share for a period of 3 years from the date of closing. c) In connection with the completion of the third tranche of the Private Placement, the Company paid a total of $110 and issued an aggregate of 1,839,798 finder's warrants as finder's fees. The finder's warrants are exercisable at a price of $0.10 per share for a period of 3 years from the date of closing d) e) |
ADDITIONAL PAID-IN CAPITAL
ADDITIONAL PAID-IN CAPITAL | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
ADDITIONAL PAID-IN CAPITAL [Text Block] | 12. ADDITIONAL PAID-IN CAPITAL a) The Company has a stock option plan under which the Company is authorized to grant stock options of up to 10% of the number of common shares issued and outstanding of the Company at any given time. Stock option activity during the year ended December 31, 2022 is summarized below: i. ii. The continuity of the number of stock options issued and outstanding as of December 31, 2022, and December 31, 2021 is as follows: As at December 31, 2022 As at December 31, 2021 Number of Weighted Number of Weighted Outstanding, beginning of year 19,915,000 0.12 14,690,000 0.08 Granted 11,394,283 0.08 12,900,000 0.16 Expired (1,695,000 ) 0.10 (275,000 ) 0.65 Cancelled - - (2,515,000 ) 0.15 Exercised - - (4,885,000 ) 0.07 Outstanding, end of year 29,614,283 0.11 19,915,000 0.12 As of December 31, 2022, and December 31, 2021, the number of stock options outstanding and exercisable were: Expiry date Exercise price Number of Remaining Number of September 20, 2023 0.06 1,470,000 0.72 1,470,000 June 21, 2024 0.07 1,900,000 1.47 1,900,000 August 8, 2024 0.06 500,000 1.61 500,000 June 20, 2025 0.08 2,450,000 2.47 2,450,000 August 18, 2025 0.072 2,394,283 2.63 2,394,283 June 18, 2026 0.25 3,950,000 3.47 3,950,000 September 17, 2026 0.11 4,500,000 3.72 4,500,000 October 21, 2026 0.09 2,700,000 3.81 2,700,000 December 12, 2026 0.12 750,000 3.95 750,000 May 25, 2027 0.085 9,000,000 4.40 9,000,000 Outstanding, December 31, 2022 29,614,283 29,614,283 Expiry date Exercise price Number of Remaining Number of June 23, 2022 0.10 1,695,000 0.48 1,695,000 September 20, 2023 0.06 1,470,000 1.72 1,470,000 June 21, 2024 0.07 1,900,000 2.47 1,900,000 August 8, 2024 0.06 500,000 2.61 500,000 June 20, 2025 0.08 2,450,000 3.47 2,450,000 June 18, 2026 0.25 3,950,000 4.47 1,975,000 September 17, 2026 0.11 4,500,000 4.72 2,250,000 October 21, 2026 0.09 2,700,000 4.81 675,000 December 12, 2026 0.12 750,000 4.95 187,500 Outstanding, December 31, 2021 19,915,000 13,102,500 During the year ended December 31, 2022, an amount of $918 (2021 - $1,077) was expensed as share-based payments related to the vesting of options. The portion of share-based payments recorded is based on the vesting schedule of the options. The following weighted average assumptions were applied using the Black-Scholes Option Pricing model used to estimate the weighted average fair value of stock options granted during the years ended December 31, 2022, and 2021: Year ended December Year ended December Risk-free interest rate 2.58% - 3.28% 0.97% - 1.33% Expected life (years) 3 - 5 5 Annualized volatility 147% - 150% 101% - 107% Forfeiture rate 0% 0% Dividend yield 0% 0% b) Warrant activity during the year ended December 31, 2022, is summarized below: i. ii. iii. iv. The continuity of the number of share purchase warrants outstanding as of December 31, 2022, and December 31, 2021, is as follows: December 31, 2022 December 31, 2021 Number of Weighted Number of Weighted Outstanding, beginning of year 83,083,504 $ 0.09 12,769,230 $ 0.05 Issued 29,850,738 0.067 71,314,274 0.10 Exercised (2,000,000 ) 0.05 (1,000,000 ) 0.05 Expired (9,769,230 ) 0.05 - - Outstanding, end of year 101,165,012 $ 0.09 83,083,504 $ 0.09 The following table summarizes warrants outstanding as of December 31, 2022, and December 31, 2021: Expiry date Currency Exercise price December 31, 2022 December 31, 2021 August 28, 2022 USD 0.05 - 11,000,000 September 20, 2022 CAD 0.065 - 769,230 September 13, 2024 USD 0.10 26,488,733 26,488,733 September 27, 2024 USD 0.10 13,152,909 13,152,909 October 21, 2024 USD 0.10 31,672,632 31,672,632 February 17, 2024 USD 0.067 16,044,774 - March 8, 2024 USD 0.067 13,805,964 - Outstanding at the end of the year 101,165,012 83,083,504 c) At the 2022 Annual General Meeting, the Company's stockholders approved issuance of common shares from treasury pursuant to the Company's Amened 2021 Restricted Share Unit Plan (the "RSU Plan") and reserved 30,330,661 shares for issuance under the RSU Plan. Under the RSU Plan, if the Company divests its interests, including the option to purchase, absent a merger, sale or similar transaction in a) one of either the Chaco Bear or Ashton projects, then 50% of the total RSUs that have not vested will be cancelled, or b) both the Chaco Bear or Ashton projects, then 100% of the total RSUs that have not vested will be cancelled. Restricted share units ("RSU") activity during the year ended December 31, 2022, is summarized below: i. ii. iii. During the year ended December 31, 2022, an amount of $255 (2021 - $Nil) was expensed as share-based payments related to the grant of RSU's. The continuity of the number of RSUs issued and outstanding as of December 31, 2022, and December 31, 2021 is as follows: Number of RSUs Outstanding at December 31, 2021 - Granted 8,000,000 Released (1,333,333 ) Cancelled (1,333,333 ) Outstanding at December 31, 2022 5,333,334 |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS [Text Block] | 13. RELATED PARTY TRANSACTIONS The Company's related parties include its directors and officers whose remuneration was as follows, subject to change of control provisions for officers: For the years ended December 31 2022 2021 Salaries $ 504 $ 491 Directors' fees 13 6 Share-based payments 904 504 Interest on convertible debenture 53 - $ 1,474 $ 1,001 a) On April 5, 2022, the Company completed the assignment of the two option agreements for the Butte Valley property. Pursuant to the assignment agreement, Lion CG received 16,049,444 common shares of Falcon Butte (Note 5). In addition, the Company received a payment of $500 from Falcon Butte, as a reimbursement of exploration expenditures and related costs incurred by the Company on the Butte Valley Property. The Company recorded a gain of $2,207 on the sale of the Butte Valley property (Note 4(e)). On April 13, 2022, the Company amended the agreement. Pursuant to the addendum Falcon Butte will pay a total of $500 in exchange for a 0.5% buy-down and retirement of certain NSRs. As of December 31, 2022, the Company has received $500 (Note 4(e)). b) c) d) e) f) g) As a result, for the year ended December 31, 2022, the CEO of the Company was paid as follows: $228,333 in cash $21,667 in Falcon Butte shares. h) i) j) k) |
SEGMENTED INFORMATION
SEGMENTED INFORMATION | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
SEGMENTED INFORMATION [Text Block] | 14. SEGMENTED INFORMATION The Company operates in one reportable operating segment, being mineral exploration. Geographic segment information relating to the Company's mineral properties as at December 31, 2022, and the year ended December 31, 2021 is as follows: December 31, 2022 December 31, 2021 Canada USA Total Canada USA Total Mineral properties $ 602 $ 7,282 $ 7,884 $ - $ 6,821 $ 6,821 |
COMMITMENTS
COMMITMENTS | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS [Text Block] | 15. COMMITMENTS To acquire certain mineral property interests as per Note 4, the Company must make optional acquisition expenditures to satisfy the terms of existing option agreements, failing which the rights to such mineral properties will revert to the property vendors. |
CONTINGENCIES
CONTINGENCIES | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
CONTINGENCIES [Text Block] | 16. CONTINGENCIES On July 23, 2021, the Company received notice from the State of Nevada that the State has not approved extensions of three water rights permits purchased by its subsidiary, SPS in 2011. The State also advised that a fourth permit would not be extended after a period of an additional year. This appeal process is ongoing as discussed in Note 4(a). The latest development in the appeal process is a Remand Order was issued by the District Court Judge on December 6, 2022. The State's response to the Remand Order is not known at this time. Therefore, the impact of the State's decision on the Company's business is not known at this time. If the State's decision is not reversed and the Company does not retain some or all of the subject water rights, the Company will need to acquire sufficient replacement water rights to support its future mining in Mason Valley. Engineering studies to define the amount of water required to support the Company's future mining operations are ongoing. |
DEFERRED INCOME TAX
DEFERRED INCOME TAX | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
DEFERRED INCOME TAX [Text Block] | 17. DEFERRED INCOME TAX A Reconciliation of income tax provision computed at Canadian statutory rates to the reported income tax provision is provided as follows: 2022 2021 Tax loss for the year (1,928 ) (6,448 ) Canadian statutory rate 27% 27% Income tax benefit computed at statutory rates $ (520 ) $ (1,741 ) Adjustment for foreign tax rates 313 148 Provision to return adjustments and other (235 ) - Share issuance costs - (98 ) Foreign exchange gains and losses 580 (34 ) Permanent difference 324 190 Change in valuation allowance (462 ) 1,535 Income tax expense (recovery) $ - $ - The tax effect of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities as at December 31, 2022 and 2021 respectively are presented below.: 2022 2021 Deferred tax assets: Non-capital loss and net operating loss carryforward $ 8,934 $ 9,414 Mineral properties 7,536 7,304 Capital losses 2,117 2,313 Financing and other 56 77 SAFE notes 76 - Total gross deferred tax assets 18,719 19,108 Less: valuation allowance (18,646 ) (19,108 ) Net deferred tax assets 73 - Deferred tax liabilities: Convertible debentures (73 ) - Total deferred tax liabilities (73 ) - Deferred tax assets and liabilities - - The Company's unused tax losses expire as follows: Canada US 2026 $ 508 $ - 2027 - 2042 21,413 - 2034 - 2037 - 11,779 Indefinite - 2,579 $ 21,921 $ 14,358 The Company's unused capital losses of $15,680 are available to carry forward indefinitely. |
FINANCIAL INSTRUMENT RISKS
FINANCIAL INSTRUMENT RISKS | 12 Months Ended |
Dec. 31, 2022 | |
Investments, All Other Investments [Abstract] | |
FINANCIAL INSTRUMENT RISKS [Text Block] | 18. FINANCIAL INSTRUMENT RISKS The board of directors has overall responsibility for establishing and oversight of the Company's risk management framework. The Company examines the various financial instrument risks to which it is exposed and assesses the impact and likelihood of those risks. Financial instruments consist of cash, accounts payable, Rio Tinto deposit, SAFE notes, convertible debentures, derivative liability conversion feature and derivative liability warrants. Financial instruments recorded at fair value on the consolidated statements of financial position are classified using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The three levels of the fair value hierarchy are: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and Level 3 - Inputs that are not based on observable market data. The Company's activities expose it to financial risks of varying degrees of significance, which could affect its ability to achieve its strategic objectives for growth and stockholder returns. The principal financial risks to which the Company is exposed are, liquidity risk, currency risk, interest rate risk, credit risk and commodity price risk. The Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management framework and reviews the Company's policies on an ongoing basis. The carrying values of cash, accounts payable, and Rio Tinto deposit approximate their fair values because of their immediate or short term to maturity and the Company's convertible debentures are recorded at amortized cost. The Company's derivative liabilities is measured at its fair value at the end of each reporting period and is categorized as Level 2 in the fair value hierarchy. The SAFE notes are classified as liabilities pursuant to ASC 480 and were measured at fair value at each reporting period, with changes in fair value recorded within the Consolidated Statements of Operations and are categorized as Level 3 in the fair value hierarchy. a) Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company manages liquidity risk through the management of its capital structure. To mitigate this risk, the Company has a planning and budgeting process in place to determine the funds required to support its ongoing operations and capital expenditures. The Company ensures that sufficient funds are raised from equity offerings or debt financings to meet its operating requirements, after considering existing cash and expected exercise of stock options and share purchase warrants. See Note 1 for further discussion. b) Foreign exchange risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Company operates in the United States and Canada; therefore, it is exposed to currency risk from transactions denominated in CAD. Currently, the Company does not have any foreign exchange hedge programs and manages its operational CAD requirements through spot purchases in the foreign exchange markets. Based on CAD financial assets and liabilities' magnitude, the Company does not have material sensitivity to CAD to USD exchange rates. c) Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company is exposed to the interest rate risk on its liabilities through its outstanding borrowings and the interest earned on cash balances. The Company monitors its exposure to interest rates and maintains an investment policy that focuses primarily on the preservation of capital and liquidity. d) Credit risk is the risk of a financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit risk through its cash and cash equivalents. Cash and cash equivalents are held in large Canadian financial institutions that have high credit ratings assigned by international credit rating agencies. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS [Text Block] | 19. SUBSEQUENT EVENTS I. II. III. In connection with the sale of the Debentures, the Company also issued 18,461,015 common share purchase warrants to the purchasers. Each Warrant entitles the holder to acquire a common share of the Company at a price of $0.07 ($0.095 CAD) until November 2, 2024. IV. V. At December 31, 2022, BCRC had received $767.5 in SAFE Notes, and an additional $100 subsequent to the year. The private placement described above was considered a triggering event as described in Note 10, and the face value of SAFE Notes of $867.5 were converted into common shares of BCRC resulting in 21,629,386 common shares being issued. As a result, Lion CG's ownership in BCRC was reduced to 48.8% as of March 2, 2023. VI. VII. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Accounting estimates and judgments [Policy Text Block] | Accounting estimates and judgments The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the application of policies, reported amounts and disclosures. By their nature, these estimates and judgments are subject to uncertainty and the effect on these consolidated financial statements of changes in such estimates in future years could be significant. Actual results could differ from those estimates. Key sources of estimation uncertainty that has a significant risk of causing material adjustment to the amounts recognized in the consolidated financial statements exist as follows: Share-based payments: Investment in Associate: Fair value of Simple Agreement for Future Equity ("SAFE") notes: Valuation of warrants: Valuation of derivative liabilities: Significant judgments used in the preparation of these consolidated financial statements include, but are not limited to: Mineral properties: Going concern: Taxes: Influence over investment in associate: Valuation of the Arnold, Snowbird, and Montana property Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the year in which the estimates are revised and in any future years affected. |
First-time adoption of U.S. GAAP [Policy Text Block] | a) First-time adoption of U.S. GAAP These Consolidated Financial Statements for the year ended December 31, 2022, are the first the Company has prepared in accordance with U.S. GAAP. The Company previously prepared its financial statements, up to and including nine months ended September 30, 2022, in accordance with International Financial Reporting Standards. Accordingly, the Company has prepared financial statements that comply with U.S. GAAP applicable as at December 31, 2022, together with the comparative year data for the year ended December 31, 2021. In preparing the financial statements, the Company's opening balance sheets were prepared as at January 1, 2021 to provide comparative numbers under U.S. GAAP. This note explains the principal adjustments made by the Company in restating its U.S. GAAP financial statements. Reconciliation of Balance sheets as at January 1, 2021 Notes IFRS Effect of Transition U.S. GAAP U.S. GAAP Assets Current assets Cash $ 701 $ - $ 701 Other receivables 3 - 3 Marketable securities 641 - 641 Prepaid and deposit 5 - 5 1,350 - 1,350 Mineral properties (1) 28,236 (21,958 ) 6,278 Reclamation bonds 34 - 34 Total assets $ 29,620 $ (21,958 ) $ 7,662 Liabilities Current liabilities Accounts payable and accrued liabilities $ 222 $ - $ 222 222 - 222 Derivative liabilities - warrants 51 - 51 Total liabilities 273 - 273 Stockholders' Equity Share capital 101,553 - 101,553 Contributed surplus (2) 19,406 (19,406 ) - Additional paid-in capital (2) - 19,406 19,406 Deficit (1) (91,612 ) (21,958 ) (113,570 ) Total stockholder's equity 29,347 (21,958 ) 7,389 Total liabilities and stockholders' equity $ 29,620 $ (21,958 ) $ 7,662 Reconciliation of financial position as at December 31, 2021 Notes IFRS Effect of Transition to U.S. GAAP U.S. GAAP Assets Current assets Cash $ 842 $ - $ 842 Other receivables 6 6 Prepaid and deposit 43 - 43 891 - 891 Mineral properties (1) 32,203 (25,382 ) 6,821 Reclamation bonds 35 - 35 Total assets $ 33,129 $ (25,382 ) $ 7,747 Liabilities Current liabilities Accounts payable and accrued liabilities $ 1,358 $ - $ 1,358 Derivative liabilities - warrants 55 - 55 Total liabilities 1,413 - 1,413 Stockholders' Equity Share capital 104,340 - 104,340 Contributed surplus (2) 22,012 (22,012 ) - Additional paid-in capital (2) - 22,012 22,012 Deficit (1) (94,636 ) (25,382 ) (120,018 ) Total stockholder's equity 31,716 (25,382 ) 6,334 Total liabilities and stockholders' equity $ 33,129 $ (25,382 ) $ 7,747 Reconciliation of operation results for the year ended December 31, 2021 Notes IFRS Effect of U.S. GAAP U.S. GAAP General administrative expenses General office $ 58 $ - $ 58 Insurance 30 - 30 Investor relations 206 - 206 Professional fees 493 - 493 Rent 13 - 13 Salaries and benefits 938 - 938 Share-based payments 1,077 - 1,077 Transfer agent 108 - 108 Travel 87 - 87 Operating loss (3,010 ) - (3,010 ) Fair value gain on derivative liabilities - warrants (4 ) - (4 ) General exploration (1) (218 ) (3,424 ) (3,642 ) Realized gain on marketable securities 189 - 189 Unrealized gain (loss) on foreign exchange 11 - 11 Interest and other income 8 - 8 (14 ) (3,424 ) (3,438 ) Loss and comprehensive loss for the year $ (3,024 ) $ (3,424 ) $ (6,448 ) Basic and diluted loss per share $ (0.01 ) $ - $ (0.03 ) Basic and diluted weighted average number of shares outstanding 239,831,079 - 239,831,079 Notes to the reconciliations The reconciling items between IFRS and U.S. GAAP presentation have no significant effect on the cash flows generated. Therefore, a reconciliation of cash flows has not been presented above. (1) Mineral properties Under IFRS, the Company capitalized both acquisition and exploration costs relating to the Company's mineral properties. Under U.S. GAAP, the industry standard is to capitalize acquisition costs but expense exploration costs unless a proven or probable reserve can be established at the mineral property. Adjustments has been made to expense previously capitalized exploration costs to be in accordance with U.S. GAAP. (2) Contributed surplus and Additional paid-in capital Under IFRS, share-based payments were presented as contributed surplus. Upon transition to U.S. GAAP, a reclassification adjustment has been made to present the amount as additional paid-in capital. |
Investment in associate [Policy Text Block] | b) Investment in associate is comprised of the Company's investment in Falcon Butte Minerals Corp. ("Falcon Butte"). An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee but is not in control or joint control over those policies. The Company's investment in Falcon Butte is accounted for using the equity method. Under the equity method, the investment in an associate or a joint venture is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Company's share of net assets of the associate since the acquisition date. Goodwill relating to the associate is included in the carrying amount of the investment and is not tested for impairment separately. After application of the equity method, the Company determines whether a loss in the fair value of an investment below its carrying value is a temporary decline. If it is other than temporary, the investor calculates an impairment as the excess of the investment's carrying amount over the fair value. Reversals of impairments on equity method investments are prohibited. Upon loss of significant influence over the associate, the Company measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognized in profit or loss. |
Translation of foreign currencies [Policy Text Block] | c) Translation of foreign currencies The functional currency for each of the Company's subsidiaries is the currency of the primary economic environment in which the entity operates. Determination of functional currency may involve certain judgments to determine the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions that determined the primary economic environment. The Company's presentation currency is the U.S. dollar ("$" or "USD"). The functional currency of the Company and its significant subsidiaries is the USD. In preparing the financial statements, transactions in currencies other than an entity's functional currency ("foreign currencies") are recorded at the rates of exchange prevailing at the dates of the transactions. At each balance sheet date, monetary assets and liabilities are translated using the year-end foreign exchange rate. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. All gains and losses on translation of these foreign currency transactions are included in the statement of loss. |
Mineral properties [Policy Text Block] | d) Mineral properties Direct costs related to the acquisition of mineral properties held or controlled by the Company are capitalized on an individual property basis until the property transitions to the development stage, is sold, abandoned, or determined to be impaired. Exploration and administration costs are expensed as incurred. The Company classifies its mineral properties as exploration and evaluation assets until the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. At this point, the mineral properties' carrying value is tested for impairment and subsequently transferred to property and equipment. The establishment of technical feasibility and commercial viability of a mineral property is assessed based on a combination of factors, such as the extent of established mineral reserves, the results of feasibility and technical evaluations, and the status of mineral leases or permits. Proceeds from the sale of properties are accounted for as reductions to the capitalized acquisition costs, while property water rights are recorded as other income. Cash proceeds received from farm-out option agreements are recorded as a liability once received and reduced as the obligation to incur expenditures related to the agreement are met. Funds received for expenditures incurred are recorded as other income on the statement of loss and comprehensive loss or as a reduction to the capitalized acquisition costs, depending on the nature of the expenditure incurred. |
Impairment [Policy Text Block] | e) Impairment The Company assesses the carrying costs of the capitalized mineral properties for impairment indicators under ASC 360-10, "Impairment of long-lived assets". If impairment indicators are identified, the Company evaluates its carrying value under ASC 930-360, "Extractive Activities - Mining". An impairment is recognized if the sum of the expected undiscounted future cash flows is less than the carrying amount of the mineral properties. Impairment losses, if any, are measured as the excess of the carrying amount of the mineral properties over its estimated fair value. Based on the Company's evaluation, no impairment indicators were identified on the mineral properties for the years ended December 31, 2022 and 2021. |
Share-based payments [Policy Text Block] | f) Share-based payments The fair value of stock options granted to directors, officers, employees and consultants is calculated using the Black Scholes option pricing model and is expensed over the vesting periods. If and when stock options are exercised, the value attributable to the stock options is transferred to share capital. |
Cash [Policy Text Block] | g) Cash Cash consists of cash on hand and bank deposits. As at December 31, 2022, the Company held $15 CAD (2021 - $442 CAD) in bank accounts denominated in CAD. |
Financial instruments [Policy Text Block] | h) Financial instruments Financial instruments are recognized in the balance sheet when the Company becomes a party to a contractual obligation. At initial recognition, the Company classifies and measures its financial instruments as one of the following: held to maturity (amortized cost); available for sale (fair value through other comprehensive income); otherwise, they are classified as trading (fair value through net income). Financial assets are classified and measured at fair value with subsequent changes in fair value recognized in either profit and loss as they arise unless restrictive criteria are met for classifying and measuring the asset at either amortized cost or FVOCI. Financial liabilities are measured at amortized costs unless they are elected to be or required to be measured at fair value through profit and loss. Financial assets are derecognized when the rights to receive cash flows from the assets have expired or have been transferred, and the Company has transferred all risks and rewards of ownership. Financial liabilities are derecognized when the obligations specified in the contract are discharged, cancelled, or expire. The Company's cash, accounts payable and Rio Tinto deposit approximate fair value due to their short-term nature. The convertible note is classified as a liability at amortized cost, with the conversion feature and related warrants classified as liabilities to be measured at fair value at each reporting period. The debt liability was initially recorded at fair value and is subsequently measured at amortized cost using the effective interest rate method and will be accreted to the face value over the term of the convertible debenture. The SAFE notes are classified as liabilities pursuant to ASC 480 and were measured at fair value at each reporting period, with changes in fair value recorded within the Consolidated Statements of Operations. |
Provisions [Policy Text Block] | i) Provisions Provisions are recognized when a present legal or constructive obligation exists as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and the amount of the obligation can be reliably estimated. The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, considering the risks and uncertainties surrounding the obligation. The Company had no material provisions as of December 31, 2022 and 2021. |
SAFE Notes [Policy Text Block] | j) SAFE Notes The Company issued SAFE notes to investors during the year ended December 31, 2022 and determined that the SAFE notes are not a legal form of debt (i.e., no creditors' rights). The Company allowed for redemption based upon certain events that are outside of the control of the Company. Therefore, the SAFE Instruments were classified as liabilities pursuant to ASC 480 and were measured at fair value at each reporting period, with changes in fair value recorded within the Consolidated Statements of Operations. |
Earnings (loss) per share [Policy Text Block] | k) Earnings (loss) per share Basic earnings (loss) per share is calculated using the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method to compute the dilutive effect of options, warrants and similar instruments. Under this method, the dilutive effect on earnings per share is calculated, presuming the exercise of in-the-money outstanding options, warrants and similar instruments. It assumes that the proceeds of such exercise would be used to repurchase common shares at the average market price during the year. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive. |
Income tax [Policy Text Block] | l) Income tax Income tax comprises current and deferred tax. Income tax is recognized in net loss, except to the extent it is related to items recognized directly in equity or other comprehensive loss. Deferred tax is recognized in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. Deferred tax is determined on a non-discounted basis using tax rates and laws that have been enacted by the reporting date and are expected to apply when the deferred tax asset or liability is settled. Deferred tax assets are recognized to the extent that their recovery is more likely than not. |
Non-controlling interest [Policy Text Block] | m) Non-controlling interest On December 13, 2022, Quaterra Alaska was issued 57,513,764 common shares of Blue Copper Resources Corp which represented 79.3% of all issued and outstanding shares at December 13, 2022 and December 31, 2022. For partially owned subsidiaries, the interest attributable to non-controlling shareholders is reflected in non-controlling interest. |
Recently Issued Accounting Standards [Policy Text Block] | n) Recently Issued Accounting Standards In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40). This update amends the guidance on convertible instruments and the derivatives scope exception for contracts in an entity's own equity and improves and amends the related EPS guidance for both Subtopics. This standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2023, which means it will be effective for our fiscal year beginning April 1, 2024. Early adoption is permitted but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Upon transition to US GAAP, the Company has adopted ASU 2020-06 in the preparation of the consolidated financial statements for the years ended December 31, 2022 and 2021. In November 2021, FASB issued ASU 2021-10, Disclosures by Business Entities about Government Assistance. ASU 2021-10 was issued to increase the transparency of government assistance including the disclosure of (1) the types of assistance, (2) an entity's accounting for the assistance, and (3) the effect of the assistance on an entity's financial statements. Requiring disclosures about government assistance in the notes to financial statements will provide comparable and transparent information to investors and other financial statement users to enable them to understand an entity's financial results and prospects for future cash flows. The amendment applies to all business entities, except those explicitly excluded. The amendments are effective for fiscal years beginning after December 15, 2021 and upon transition to US GAAP, the Company has adopted ASU 2021-10 in the preparation of the consolidated financial statements for the years ended December 31, 2022 and 2021. In May 2021, FASB issued ASU 2021-04, Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. ASU 2021-04 was issued to clarify and reduce diversity in an issuer's accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this Update are effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Upon transition to US GAAP, the Company has adopted ASU 2021-04 in the preparation of the consolidated financial statements for the years ended December 31, 2022 and 2021. |
BASIS OF PRESENTATION (Tables)
BASIS OF PRESENTATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Basis Of Accounting Disclosure [Abstract] | |
Schedule of subsidiaries ownership percentage [Table Text Block] | Percentage ownership Subsidiaries December 31, 2022 December 31, 2021 Country of incorporation Quaterra Alaska Inc. ("Quaterra Alaska") 100.0% 100.0% United States Singatse Peak Services, LLC ("SPS") 100.0% 100.0% United States Six Mile Mining Company ("Six mile") N/A 100.0% United States Blue Copper Resources Corp ("BCRC") 79.3% N/A United States Blue Copper LLC 79.3% indirect 100.0% United States |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of effect of transition and adjustments [Table Text Block] | Reconciliation of Balance sheets as at January 1, 2021 Notes IFRS Effect of Transition U.S. GAAP U.S. GAAP Assets Current assets Cash $ 701 $ - $ 701 Other receivables 3 - 3 Marketable securities 641 - 641 Prepaid and deposit 5 - 5 1,350 - 1,350 Mineral properties (1) 28,236 (21,958 ) 6,278 Reclamation bonds 34 - 34 Total assets $ 29,620 $ (21,958 ) $ 7,662 Liabilities Current liabilities Accounts payable and accrued liabilities $ 222 $ - $ 222 222 - 222 Derivative liabilities - warrants 51 - 51 Total liabilities 273 - 273 Stockholders' Equity Share capital 101,553 - 101,553 Contributed surplus (2) 19,406 (19,406 ) - Additional paid-in capital (2) - 19,406 19,406 Deficit (1) (91,612 ) (21,958 ) (113,570 ) Total stockholder's equity 29,347 (21,958 ) 7,389 Total liabilities and stockholders' equity $ 29,620 $ (21,958 ) $ 7,662 Reconciliation of financial position as at December 31, 2021 Notes IFRS Effect of Transition to U.S. GAAP U.S. GAAP Assets Current assets Cash $ 842 $ - $ 842 Other receivables 6 6 Prepaid and deposit 43 - 43 891 - 891 Mineral properties (1) 32,203 (25,382 ) 6,821 Reclamation bonds 35 - 35 Total assets $ 33,129 $ (25,382 ) $ 7,747 Liabilities Current liabilities Accounts payable and accrued liabilities $ 1,358 $ - $ 1,358 Derivative liabilities - warrants 55 - 55 Total liabilities 1,413 - 1,413 Stockholders' Equity Share capital 104,340 - 104,340 Contributed surplus (2) 22,012 (22,012 ) - Additional paid-in capital (2) - 22,012 22,012 Deficit (1) (94,636 ) (25,382 ) (120,018 ) Total stockholder's equity 31,716 (25,382 ) 6,334 Total liabilities and stockholders' equity $ 33,129 $ (25,382 ) $ 7,747 Reconciliation of operation results for the year ended December 31, 2021 Notes IFRS Effect of U.S. GAAP U.S. GAAP General administrative expenses General office $ 58 $ - $ 58 Insurance 30 - 30 Investor relations 206 - 206 Professional fees 493 - 493 Rent 13 - 13 Salaries and benefits 938 - 938 Share-based payments 1,077 - 1,077 Transfer agent 108 - 108 Travel 87 - 87 Operating loss (3,010 ) - (3,010 ) Fair value gain on derivative liabilities - warrants (4 ) - (4 ) General exploration (1) (218 ) (3,424 ) (3,642 ) Realized gain on marketable securities 189 - 189 Unrealized gain (loss) on foreign exchange 11 - 11 Interest and other income 8 - 8 (14 ) (3,424 ) (3,438 ) Loss and comprehensive loss for the year $ (3,024 ) $ (3,424 ) $ (6,448 ) Basic and diluted loss per share $ (0.01 ) $ - $ (0.03 ) Basic and diluted weighted average number of shares outstanding 239,831,079 - 239,831,079 |
MINERAL PROPERTIES (Tables)
MINERAL PROPERTIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Mineral Industries Disclosures [Abstract] | |
Schedule of mineral property acquisition costs [Table Text Block] | Singatse Peak Services Lion CG Quaterra Alaska Blue Copper Resources Corp (In thousands of U.S dollars) MacArthur Yerington Bear Wassuk Chaco Bear Butte Blue Groundhog Blue Copper Total $ $ $ $ $ $ $ $ $ $ Balance January 1, 2021 2,489 1,195 1,339 1,155 - 100 - - - 6,278 Acquisition costs - - 193 250 - 100 - - - 543 Total additions (disposals) for the year - - 193 250 - 100 - - - 543 Balance December 31, 2021 2,489 1,195 1,532 1,405 - 200 - - - 6,821 Acquisition costs - - 193 - 602 - 118 - 500 1,413 Assignment of Butte Valley - - - - - (200 ) - - - (200 ) Transfer to BCRC - - - - - - (118 ) - 118 - Paid by Rio Tinto - - (150 ) - - - - - - (150 ) Total additions (disposals) for the year - - 43 - 602 (200 ) - - 618 1,063 Balance December 31, 2022 2,489 1,195 1,575 1,405 602 - - - 618 7,884 |
Schedule of exploration expenditures recorded on the statement of loss and comprehensive loss [Table Text Block] | Exploration expenditures incurred for the year ended December 31, 2022 Singatse Peak Services Lion CG Quaterra Alaska Blue Copper Resources Corp (In thousands of U.S dollars) MacArthur Yerington Bear Wassuk Chaco Groundhog Butte Valley Blue Copper Groundhog Blue Copper Total $ $ $ $ $ $ $ $ $ $ $ Property maintenance 167 64 - 55 - - 2 161 107 41 597 Assay & Labs 86 33 - - - - - - - - 119 Drilling 478 437 - - - - - - - - 915 Environmental 292 489 - - - - - 11 - - 792 Geological & mapping 1 - - - 18 - - 25 - - 44 Geophysical surveys 61 1 5 - - - 11 59 - 35 172 Technical study 341 411 - - - - - - - - 752 Field support 635 16 - - - 44 10 56 - 150 911 Total expenses incurred 2,061 1,451 5 55 18 44 23 312 107 226 4,302 Total Expenditures funded by Rio Tinto (1,637 ) (1,394 ) - (55 ) - - - - - - (3,086 ) Total Expenditures funded by Lion CG 424 57 5 - 18 44 23 312 107 226 1,216 Exploration expenditures incurred for the year ended December 31, 2021 (In thousands of U.S dollars) MacArthur Yerington Bear Wassuk Chaco Bear & Ashton Groundhog Butte Valley Blue Copper Total $ $ $ $ $ $ $ $ $ Property maintenance 159 69 - 55 - 98 147 401 929 Assay & Labs 231 - - - - - - - 231 Drilling 892 - - 47 - - 500 - 1,439 Environmental 43 142 - - - - - - 185 Geological & mapping 22 - - - 160 - - 16 198 Geophysical surveys 20 - 63 - - - 47 15 145 Technical study 276 11 - - - 1 - - 288 Field support 46 5 - 3 - 67 59 47 227 Total expenses incurred 1,689 227 63 105 160 166 753 479 3,642 |
INVESTMENT IN ASSOCIATE (Tables
INVESTMENT IN ASSOCIATE (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of summarized financial information of Falcon Butte [Table Text Block] | Period from April 5 to December 31, 2022 Operating expenses General and administrative expenses $ 3,313 Total operating expenses 3,313 Gain on settlement of debt (100 ) Fair value loss on derivative liability 4 Other income (1,093 ) Foreign exchange (gain) (396 ) Net loss $ 1,728 |
Schedule of carrying amount of equity method investment [Table Text Block] | Balance December 31, 2021 $ - Initial investment 1,906 Transfer of shares to the CEO (13 ) Company's share of net loss (389 ) Balance December 31, 2022 $ 1,504 |
RIO TINTO DEPOSIT (Tables)
RIO TINTO DEPOSIT (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Deposit Liabilities [Abstract] | |
Schedule of continuity of the Company's Rio Tinto deposit [Table Text Block] | Balance December 31, 2021 $ - Proceeds received 4,000 Funds applied to capitalized acquisition costs (Note 4) (150 ) Funds applied to exploration expenditures (Note 4) (3,086 ) Funds applied to general operating expenditures (151 ) Balance December 31, 2022 $ 613 |
NON-CONTROLLING INTEREST (Table
NON-CONTROLLING INTEREST (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Noncontrolling Interest [Abstract] | |
Schedule of balance recognized as NCI [Table Text Block] | Balance December 31, 2021 $ - Preferred stock issued for the Arnold, Snowbird & Montana property 500 Net loss and comprehensive loss attributable to NCI (112 ) Balance December 31, 2022 $ 388 |
DERIVATIVE LIABILITIES (Tables)
DERIVATIVE LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of derivative liabilities at fair value [Table Text Block] | Balance December 31, 2020 $ 51 Fair value change on derivative liabilities 4 Balance December 31, 2021 55 Expiry of warrants (55 ) Issuance of Warrants (Note 9) 247 Issuance of convertible debentures with conversion feature (Note 9) 131 Fair value change on derivative liabilities (374 ) Balance December 31, 2022 $ 4 |
CONVERTIBLE DEBENTURES (Tables)
CONVERTIBLE DEBENTURES (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Instrument [Line Items] | |
Schedule of fair value of conversion feature using black-scholes option pricing model using assumptions [Table Text Block] | At initial recognition Risk-free interest rate 3.20% - 3.84% Expected volatility 10% Dividend yield 0% Expected life 1.36 - 1.67 years |
Schedule of convertible debt [Table Text Block] | Balance as at January 1, 2022 $ - Issued 2,000 Fair value of conversion feature (131 ) Fair value of warrants (247 ) Accretion 108 Interest 144 Balance as at December 31, 2022 $ 1,874 |
Warrant [Member] | |
Debt Instrument [Line Items] | |
Schedule of fair value of conversion feature using black-scholes option pricing model using assumptions [Table Text Block] | At initial recognition Risk-free interest rate 3.20% - 3.26% Expected volatility 10% Dividend yield 0% Expected life 1.36 - 1.67 years |
SIMPLE AGREEMENT FOR FUTURE E_2
SIMPLE AGREEMENT FOR FUTURE EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of SAFE notes [Table Text Block] | Balance as at January 1, 2022 $ - Issued 767 Loss on change in fair value of SAFE notes 364 Balance as at December 31, 2022 $ 1,131 |
ADDITIONAL PAID-IN CAPITAL (Tab
ADDITIONAL PAID-IN CAPITAL (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of number of stock options issued and outstanding [Table Text Block] | As at December 31, 2022 As at December 31, 2021 Number of Weighted Number of Weighted Outstanding, beginning of year 19,915,000 0.12 14,690,000 0.08 Granted 11,394,283 0.08 12,900,000 0.16 Expired (1,695,000 ) 0.10 (275,000 ) 0.65 Cancelled - - (2,515,000 ) 0.15 Exercised - - (4,885,000 ) 0.07 Outstanding, end of year 29,614,283 0.11 19,915,000 0.12 |
Schedule of number of outstanding and exercisable stock options based on expiry date [Table Text Block] | Expiry date Exercise price Number of Remaining Number of September 20, 2023 0.06 1,470,000 0.72 1,470,000 June 21, 2024 0.07 1,900,000 1.47 1,900,000 August 8, 2024 0.06 500,000 1.61 500,000 June 20, 2025 0.08 2,450,000 2.47 2,450,000 August 18, 2025 0.072 2,394,283 2.63 2,394,283 June 18, 2026 0.25 3,950,000 3.47 3,950,000 September 17, 2026 0.11 4,500,000 3.72 4,500,000 October 21, 2026 0.09 2,700,000 3.81 2,700,000 December 12, 2026 0.12 750,000 3.95 750,000 May 25, 2027 0.085 9,000,000 4.40 9,000,000 Outstanding, December 31, 2022 29,614,283 29,614,283 Expiry date Exercise price Number of Remaining Number of June 23, 2022 0.10 1,695,000 0.48 1,695,000 September 20, 2023 0.06 1,470,000 1.72 1,470,000 June 21, 2024 0.07 1,900,000 2.47 1,900,000 August 8, 2024 0.06 500,000 2.61 500,000 June 20, 2025 0.08 2,450,000 3.47 2,450,000 June 18, 2026 0.25 3,950,000 4.47 1,975,000 September 17, 2026 0.11 4,500,000 4.72 2,250,000 October 21, 2026 0.09 2,700,000 4.81 675,000 December 12, 2026 0.12 750,000 4.95 187,500 Outstanding, December 31, 2021 19,915,000 13,102,500 |
Schedule of assumptions used to calculate fair value of stock options granted [Table Text Block] | Year ended December Year ended December Risk-free interest rate 2.58% - 3.28% 0.97% - 1.33% Expected life (years) 3 - 5 5 Annualized volatility 147% - 150% 101% - 107% Forfeiture rate 0% 0% Dividend yield 0% 0% |
Schedule of number of warrants issued and outstanding [Table Text Block] | December 31, 2022 December 31, 2021 Number of Weighted Number of Weighted Outstanding, beginning of year 83,083,504 $ 0.09 12,769,230 $ 0.05 Issued 29,850,738 0.067 71,314,274 0.10 Exercised (2,000,000 ) 0.05 (1,000,000 ) 0.05 Expired (9,769,230 ) 0.05 - - Outstanding, end of year 101,165,012 $ 0.09 83,083,504 $ 0.09 |
Schedule of number of outstanding warrants based on expiry date [Table Text Block] | Expiry date Currency Exercise price December 31, 2022 December 31, 2021 August 28, 2022 USD 0.05 - 11,000,000 September 20, 2022 CAD 0.065 - 769,230 September 13, 2024 USD 0.10 26,488,733 26,488,733 September 27, 2024 USD 0.10 13,152,909 13,152,909 October 21, 2024 USD 0.10 31,672,632 31,672,632 February 17, 2024 USD 0.067 16,044,774 - March 8, 2024 USD 0.067 13,805,964 - Outstanding at the end of the year 101,165,012 83,083,504 |
Schedule of number of RSUs issued and outstanding [Table Text Block] | Number of RSUs Outstanding at December 31, 2021 - Granted 8,000,000 Released (1,333,333 ) Cancelled (1,333,333 ) Outstanding at December 31, 2022 5,333,334 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Schedule of directors and officers remuneration [Table Text Block] | For the years ended December 31 2022 2021 Salaries $ 504 $ 491 Directors' fees 13 6 Share-based payments 904 504 Interest on convertible debenture 53 - $ 1,474 $ 1,001 |
SEGMENTED INFORMATION (Tables)
SEGMENTED INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
Schedule of segment reporting information, by segment [Table Text Block] | December 31, 2022 December 31, 2021 Canada USA Total Canada USA Total Mineral properties $ 602 $ 7,282 $ 7,884 $ - $ 6,821 $ 6,821 |
DEFERRED INCOME TAX (Tables)
DEFERRED INCOME TAX (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Schedule of components of income tax expense (benefit) [Table Text Block] | 2022 2021 Tax loss for the year (1,928 ) (6,448 ) Canadian statutory rate 27% 27% Income tax benefit computed at statutory rates $ (520 ) $ (1,741 ) Adjustment for foreign tax rates 313 148 Provision to return adjustments and other (235 ) - Share issuance costs - (98 ) Foreign exchange gains and losses 580 (34 ) Permanent difference 324 190 Change in valuation allowance (462 ) 1,535 Income tax expense (recovery) $ - $ - |
Schedule of deferred tax assets and liabilities [Table Text Block] | 2022 2021 Deferred tax assets: Non-capital loss and net operating loss carryforward $ 8,934 $ 9,414 Mineral properties 7,536 7,304 Capital losses 2,117 2,313 Financing and other 56 77 SAFE notes 76 - Total gross deferred tax assets 18,719 19,108 Less: valuation allowance (18,646 ) (19,108 ) Net deferred tax assets 73 - Deferred tax liabilities: Convertible debentures (73 ) - Total deferred tax liabilities (73 ) - Deferred tax assets and liabilities - - |
Schedule of operating loss carryforwards [Table Text Block] | Canada US 2026 $ 508 $ - 2027 - 2042 21,413 - 2034 - 2037 - 11,779 Indefinite - 2,579 $ 21,921 $ 14,358 |
NATURE OF OPERATIONS AND GOIN_2
NATURE OF OPERATIONS AND GOING CONCERN (Narrative) (Details) $ in Thousands, $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2022 CAD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CAD ($) | Dec. 31, 2021 USD ($) | Jan. 01, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||
Net loss | $ (1,928) | $ (6,448) | ||||||
Cash | $ 15 | $ 1,365 | $ 442 | $ 842 | $ 701 | $ 701 | ||
Working capital deficit | (556) | (522) | ||||||
Accumulated deficit | $ (121,834) | $ (120,018) | $ (113,570) |
BASIS OF PRESENTATION - Schedul
BASIS OF PRESENTATION - Schedule of subsidiaries ownership percentage (Details) | Dec. 31, 2022 | Dec. 31, 2021 |
Quaterra Alaska Inc. ("Quaterra Alaska") [Member] | ||
Basis Of Presentation [Line Items] | ||
Percentage of ownership | 100% | 100% |
Singatse Peak Services, LLC ("SPS") [Member] | ||
Basis Of Presentation [Line Items] | ||
Percentage of ownership | 100% | 100% |
Six Mile Mining Company ("Six mile") [Member] | ||
Basis Of Presentation [Line Items] | ||
Percentage of ownership | 100% | |
Blue Copper Resources Corp [Member] | ||
Basis Of Presentation [Line Items] | ||
Percentage of ownership | 79.30% | |
Blue Copper LLC [Member] | ||
Basis Of Presentation [Line Items] | ||
Percentage of ownership | 79.30% | 100% |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Thousands, $ in Thousands | Dec. 13, 2022 shares | Dec. 31, 2022 CAD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CAD ($) | Dec. 31, 2021 USD ($) | Jan. 01, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Accounting Policies [Line Items] | |||||||
Cash | $ 15 | $ 1,365 | $ 442 | $ 842 | $ 701 | $ 701 | |
Quaterra Alaska Inc [Member] | Blue Copper Resources Corp [Member] | |||||||
Accounting Policies [Line Items] | |||||||
Number of shares issued | 57,513,764 | ||||||
Ownership interest held by Quaterra Alaska | 79.30% |
SIGNIFICANT ACCOUNTING POLICI_5
SIGNIFICANT ACCOUNTING POLICIES - Schedule of reconciliation of financial position (Details) $ in Thousands, $ in Thousands | Dec. 31, 2022 CAD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CAD ($) | Dec. 31, 2021 USD ($) | Jan. 01, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Current assets | ||||||
Cash | $ 15 | $ 1,365 | $ 442 | $ 842 | $ 701 | $ 701 |
Other receivables | 7 | 6 | 3 | |||
Marketable securities | 641 | |||||
Prepaid and deposit | 56 | 43 | 5 | |||
Current assets | 1,428 | 891 | 1,350 | |||
Mineral properties | 7,884 | 6,821 | 6,278 | 6,278 | ||
Reclamation bonds | 23 | 35 | 34 | |||
Total assets | 10,839 | 7,747 | 7,662 | |||
Current liabilities | ||||||
Accounts payable and accrued liabilities | 1,358 | 222 | ||||
Current liabilities | 1,984 | 1,413 | 222 | |||
Derivative liabilities - warrants | 4 | 55 | 51 | $ 51 | ||
Total liabilities | 3,858 | 1,413 | 273 | |||
Stockholders' Equity | ||||||
Share capital | 105,384 | 104,340 | 101,553 | |||
Contributed surplus | 0 | 0 | ||||
Additional paid-in capital | 23,043 | 22,012 | 19,406 | |||
Deficit | (121,834) | (120,018) | (113,570) | |||
Total stockholder's equity | 6,334 | 7,389 | ||||
Total liabilities and stockholders' equity | $ 10,839 | 7,747 | 7,662 | |||
IFRS [Member] | ||||||
Current assets | ||||||
Cash | 842 | 701 | ||||
Other receivables | 6 | 3 | ||||
Marketable securities | 641 | |||||
Prepaid and deposit | 43 | 5 | ||||
Current assets | 891 | 1,350 | ||||
Mineral properties | 32,203 | 28,236 | ||||
Reclamation bonds | 35 | 34 | ||||
Total assets | 33,129 | 29,620 | ||||
Current liabilities | ||||||
Accounts payable and accrued liabilities | 1,358 | 222 | ||||
Current liabilities | 222 | |||||
Derivative liabilities - warrants | 55 | 51 | ||||
Total liabilities | 1,413 | 273 | ||||
Stockholders' Equity | ||||||
Share capital | 104,340 | 101,553 | ||||
Contributed surplus | 22,012 | 19,406 | ||||
Additional paid-in capital | 0 | 0 | ||||
Deficit | (94,636) | (91,612) | ||||
Total stockholder's equity | 31,716 | 29,347 | ||||
Total liabilities and stockholders' equity | 33,129 | 29,620 | ||||
Effect of Transition to U.S. GAAP [Member] | ||||||
Current assets | ||||||
Cash | 0 | 0 | ||||
Other receivables | 0 | |||||
Marketable securities | 0 | |||||
Prepaid and deposit | 0 | 0 | ||||
Current assets | 0 | 0 | ||||
Mineral properties | (25,382) | (21,958) | ||||
Reclamation bonds | 0 | 0 | ||||
Total assets | (25,382) | (21,958) | ||||
Current liabilities | ||||||
Accounts payable and accrued liabilities | 0 | 0 | ||||
Current liabilities | 0 | |||||
Derivative liabilities - warrants | 0 | 0 | ||||
Total liabilities | 0 | 0 | ||||
Stockholders' Equity | ||||||
Share capital | 0 | 0 | ||||
Contributed surplus | (22,012) | (19,406) | ||||
Additional paid-in capital | 22,012 | 19,406 | ||||
Deficit | (25,382) | (21,958) | ||||
Total stockholder's equity | (25,382) | (21,958) | ||||
Total liabilities and stockholders' equity | $ (25,382) | $ (21,958) |
SIGNIFICANT ACCOUNTING POLICI_6
SIGNIFICANT ACCOUNTING POLICIES - Schedule of reconciliation of operation results (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
General administrative expenses | ||
General office | $ 140 | $ 58 |
Insurance | 61 | 30 |
Investor relations | 52 | 206 |
Professional fees | 715 | 493 |
Rent | 14 | 13 |
Salaries and benefits | 733 | 938 |
Share-based payments | 1,173 | 1,077 |
Transfer agent | 104 | 108 |
Travel | 54 | 87 |
Operating loss | (3,010) | |
Fair value gain on derivative liabilities - warrants | 429 | (4) |
General exploration | (4,302) | (3,642) |
Realized gain on marketable securities | 0 | 189 |
Unrealized gain (loss) on foreign exchange | 11 | |
Interest and other income | 0 | 8 |
Total | (3,438) | |
Loss and comprehensive loss for the year | $ (1,928) | $ (6,448) |
Basic loss per share | $ (0.01) | $ (0.03) |
Diluted loss per share | $ (0.01) | $ (0.03) |
Weighted average number of basic shares of common stock outstanding | 304,538,938 | 239,831,079 |
Weighted average number of diluted shares of common stock outstanding | 304,538,938 | 239,831,079 |
IFRS [Member] | ||
General administrative expenses | ||
General office | $ 58 | |
Insurance | 30 | |
Investor relations | 206 | |
Professional fees | 493 | |
Rent | 13 | |
Salaries and benefits | 938 | |
Share-based payments | 1,077 | |
Transfer agent | 108 | |
Travel | 87 | |
Operating loss | (3,010) | |
Fair value gain on derivative liabilities - warrants | (4) | |
General exploration | (218) | |
Realized gain on marketable securities | 189 | |
Unrealized gain (loss) on foreign exchange | 11 | |
Interest and other income | 8 | |
Total | (14) | |
Loss and comprehensive loss for the year | $ (3,024) | |
Basic loss per share | $ (0.01) | |
Diluted loss per share | $ (0.01) | |
Weighted average number of basic shares of common stock outstanding | 239,831,079 | |
Weighted average number of diluted shares of common stock outstanding | 239,831,079 | |
Effect of Transition to U.S. GAAP [Member] | ||
General administrative expenses | ||
General office | $ 0 | |
Insurance | 0 | |
Investor relations | 0 | |
Professional fees | 0 | |
Rent | 0 | |
Salaries and benefits | 0 | |
Share-based payments | 0 | |
Transfer agent | 0 | |
Travel | 0 | |
Operating loss | 0 | |
Fair value gain on derivative liabilities - warrants | 0 | |
General exploration | (3,424) | |
Realized gain on marketable securities | 0 | |
Unrealized gain (loss) on foreign exchange | 0 | |
Interest and other income | 0 | |
Total | (3,424) | |
Loss and comprehensive loss for the year | $ (3,424) | |
Basic loss per share | $ 0 | |
Diluted loss per share | $ 0 | |
Weighted average number of basic shares of common stock outstanding | 0 | |
Weighted average number of diluted shares of common stock outstanding | 0 |
MINERAL PROPERTIES (Narrative)
MINERAL PROPERTIES (Narrative) (Details) $ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | 27 Months Ended | |||||||||||||||||||
Apr. 05, 2022 USD ($) shares | Mar. 05, 2021 USD ($) | Oct. 28, 2022 USD ($) shares | May 17, 2022 USD ($) | Mar. 18, 2022 USD ($) | Mar. 17, 2022 shares | Feb. 14, 2022 shares | Feb. 24, 2021 USD ($) | Dec. 31, 2022 CAD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CAD ($) shares | Dec. 31, 2021 USD ($) shares | May 31, 2015 USD ($) | May 26, 2022 USD ($) | Apr. 13, 2022 USD ($) | Jan. 26, 2022 CAD ($) | Jan. 26, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 17, 2021 CAD ($) | Sep. 17, 2021 USD ($) | Aug. 25, 2021 | Apr. 20, 2017 | |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Payments to acquire mineral rights | $ 1,413 | $ 543 | ||||||||||||||||||||
Singatse Peak Services [Member] | Macarthur and Yerington properties [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Ownership interest | 100% | |||||||||||||||||||||
Sales price of certain water rights | $ 2,910 | |||||||||||||||||||||
Proceeds from sale of certain water rights | $ 1,000 | |||||||||||||||||||||
Deposit returned | $ 1,000 | |||||||||||||||||||||
Singatse Peak Services [Member] | Bear and Wassuk properties [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Ownership option | 100% | |||||||||||||||||||||
Singatse Peak Services [Member] | Bear [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Ownership option | 100% | |||||||||||||||||||||
Option agreement, obligated cash payments | $ 5,673 | |||||||||||||||||||||
Payments to acquire mineral rights | $ 193 | 193 | $ 5,222 | |||||||||||||||||||
Option agreement, obligated cash payments next year | 201 | |||||||||||||||||||||
Option agreement, obligated cash payments next five years | 50 | |||||||||||||||||||||
Net smelter return royalty | 2% | |||||||||||||||||||||
Potential net smelter return royalty in exchange for consideration | 1% | |||||||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 1,250 | |||||||||||||||||||||
Singatse Peak Services [Member] | Bear [Member] | Taylor [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Option agreement, obligated cash payments | $ 1,250 | |||||||||||||||||||||
Singatse Peak Services [Member] | Bear [Member] | Chisum [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Option agreement, obligated cash payments | 250 | |||||||||||||||||||||
Per year payment required | $ 50 | |||||||||||||||||||||
Singatse Peak Services [Member] | Bear [Member] | Yerington Mining [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Option agreement, obligated cash payments | 5,000 | |||||||||||||||||||||
Singatse Peak Services [Member] | Bear [Member] | Circle Bar N [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Option agreement, obligated cash payments | 8,975 | |||||||||||||||||||||
Singatse Peak Services [Member] | Bear [Member] | Desert Pearl Farms [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Option agreement, obligated cash payments | 22,770 | |||||||||||||||||||||
Singatse Peak Services [Member] | Wassuk [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Ownership interest | 100% | |||||||||||||||||||||
Option agreement, obligated cash payments | $ 1,405 | |||||||||||||||||||||
Payments to acquire mineral rights | $ 0 | 250 | ||||||||||||||||||||
Option agreement, obligated work commitment | $ 50 | |||||||||||||||||||||
Net smelter return royalty | 3% | |||||||||||||||||||||
Potential net smelter return royalty in exchange for consideration | 2% | |||||||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 1,500 | |||||||||||||||||||||
Quaterra Alaska [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Percentage of ownership | 100% | 100% | ||||||||||||||||||||
Quaterra Alaska [Member] | Groundhog [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Ownership interest | 90% | 90% | 90% | |||||||||||||||||||
Option agreement, obligated cash payments | $ 5,000 | |||||||||||||||||||||
Payments to acquire mineral rights | $ 2,839 | |||||||||||||||||||||
Net smelter return royalty | 1.75% | |||||||||||||||||||||
Potential net smelter return royalty in exchange for consideration | 0.875% | |||||||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 25,000 | |||||||||||||||||||||
Quaterra Alaska [Member] | Groundhog [Member] | Chuchuna [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Option agreement, obligated cash payments | $ 3,000 | |||||||||||||||||||||
Quaterra Alaska [Member] | Butte Valley [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Payments to acquire mineral rights | 0 | 100 | ||||||||||||||||||||
Net smelter return royalty | 1.50% | 1.50% | ||||||||||||||||||||
Potential net smelter return royalty in exchange for consideration | 0.50% | 1% | 1% | |||||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 500 | $ 7,500 | ||||||||||||||||||||
Number of shares received | shares | 16,049,444 | |||||||||||||||||||||
Fair value of shares received | $ 1,906 | |||||||||||||||||||||
Cash for mineral property | 500 | |||||||||||||||||||||
Gain on sale of mineral properties | $ 2,207 | |||||||||||||||||||||
Quaterra Alaska [Member] | Blue Copper [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Payments to acquire mineral rights | $ 118 | 0 | ||||||||||||||||||||
Lion CG [Member] | Chaco Bear & Ashton [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Ownership interest | 100% | |||||||||||||||||||||
Ownership option | 100% | 100% | 100% | |||||||||||||||||||
Payments to acquire mineral rights | $ 602 | $ 200 | 0 | |||||||||||||||||||
Shares issued for mineral properties (Shares) | shares | 8,000,000 | |||||||||||||||||||||
Net smelter return royalty | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | ||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 200 | |||||||||||||||||||||
Lion CG [Member] | Chaco Bear Property [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Option agreement, obligated exploration expenditures | 150 | |||||||||||||||||||||
Option agreement, obligated cash payments | 1,500 | |||||||||||||||||||||
Potential net smelter return royalty in exchange for consideration | 1% | 1% | ||||||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 6,000 | |||||||||||||||||||||
Annual advance royalty payments in the fourth and fifth year | 250 | $ 250 | ||||||||||||||||||||
Amount of remaining NSR Purchase | $ 12,000 | |||||||||||||||||||||
Maintenance fees | $ 60 | |||||||||||||||||||||
Lion CG [Member] | Ashton Property [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Option agreement, obligated exploration expenditures | 50 | |||||||||||||||||||||
Option agreement, obligated cash payments | 1,000 | |||||||||||||||||||||
Potential net smelter return royalty in exchange for consideration | 1% | 1% | ||||||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 3,000 | |||||||||||||||||||||
Annual advance royalty payments in the fourth and fifth year | $ 150 | $ 150 | ||||||||||||||||||||
Amount of remaining NSR Purchase | $ 6,000 | |||||||||||||||||||||
Maintenance fees | $ 40 | |||||||||||||||||||||
Blue Copper Resources Corp [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Percentage of ownership | 79% | |||||||||||||||||||||
Blue Copper Resources Corp [Member] | Groundhog [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Ownership interest transferred | 90% | |||||||||||||||||||||
Payments to acquire mineral rights | $ 0 | 0 | ||||||||||||||||||||
Blue Copper Resources Corp [Member] | Blue Copper [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Ownership interest transferred | 100% | |||||||||||||||||||||
Payments to acquire mineral rights | $ 500 | $ 0 | ||||||||||||||||||||
Shares issued for mineral properties (Shares) | shares | 1,500,000 | 1,500,000 | 1,500,000 | |||||||||||||||||||
Net smelter return royalty | 2% | 2% | ||||||||||||||||||||
Potential net smelter return royalty in exchange for consideration | 1% | 1% | ||||||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 1,500 | |||||||||||||||||||||
Number of shares received | shares | 15,000,000 | |||||||||||||||||||||
Fair value of shares received | $ 500 | |||||||||||||||||||||
Blue Copper Resources Corp [Member] | Blue Copper - additional 131 claims [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Net smelter return royalty | 2% | 2% | ||||||||||||||||||||
Potential net smelter return royalty in exchange for consideration | 1% | 1% | ||||||||||||||||||||
Consideration required for decreased net smelter return royalty | $ 600 | |||||||||||||||||||||
Rio Tinto [Member] | Option to Earn-in Agreement | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Net smelter return royalty | 1.50% | |||||||||||||||||||||
Option to earn interest in assets | 65% | |||||||||||||||||||||
Minimum percentage of holding in investment vehicle | 65% | |||||||||||||||||||||
Maximum amount funded in project financing costs | $ 60,000 | |||||||||||||||||||||
Ownership percentage received in exchange for project financing costs | 10% | |||||||||||||||||||||
Addition amount funded in project financing costs | $ 40,000 | |||||||||||||||||||||
Ownership percentage received in exchange for Addition project financing costs | 5% | |||||||||||||||||||||
Description of uncapped NSR | If Lion CG's ownership percentage in the investment vehicle is diluted to 10% or less, then Lion CG's ownership interest will be converted into a 1% uncapped NSR. | |||||||||||||||||||||
Advance payment | 7,500 | |||||||||||||||||||||
Rio Tinto [Member] | Option to Earn-in Agreement | Work program stage one [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Exclusive earn-in option | 4,000 | |||||||||||||||||||||
Development costs | $ 4,000 | |||||||||||||||||||||
Rio Tinto [Member] | Option to Earn-in Agreement | Work program stage two [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Study and evaluation works | 5,000 | |||||||||||||||||||||
Development costs | $ 4,000 | |||||||||||||||||||||
Advance payment | 5,000 | |||||||||||||||||||||
Rio Tinto [Member] | Option to Earn-in Agreement | Work program stage three [Member] | ||||||||||||||||||||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||||||||||||||||||||
Feasibility study | 50,000 | |||||||||||||||||||||
Advance payment | $ 2,500 |
MINERAL PROPERTIES - Schedule o
MINERAL PROPERTIES - Schedule of mineral property acquisition costs (Details) $ in Thousands, $ in Thousands | 12 Months Ended | 27 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 CAD ($) | Dec. 31, 2021 USD ($) | May 31, 2015 USD ($) | |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | $ 6,821 | $ 6,278 | ||
Acquisition costs | 1,413 | 543 | ||
Assignment of Butte Valley | (200) | |||
Transfer to BCRC | 0 | |||
Paid by Rio Tinto | (150) | |||
Total additions (disposals) for the year | 1,063 | 543 | ||
Ending Balance | 7,884 | 6,821 | ||
Singatse Peak Services [Member] | MacArthur [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 2,489 | 2,489 | ||
Acquisition costs | 0 | 0 | ||
Assignment of Butte Valley | 0 | |||
Transfer to BCRC | 0 | |||
Paid by Rio Tinto | 0 | |||
Total additions (disposals) for the year | 0 | 0 | ||
Ending Balance | 2,489 | 2,489 | ||
Singatse Peak Services [Member] | Yerington [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 1,195 | 1,195 | ||
Acquisition costs | 0 | 0 | ||
Assignment of Butte Valley | 0 | |||
Transfer to BCRC | 0 | |||
Paid by Rio Tinto | 0 | |||
Total additions (disposals) for the year | 0 | 0 | ||
Ending Balance | 1,195 | 1,195 | ||
Singatse Peak Services [Member] | Bear [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 1,532 | 1,339 | ||
Acquisition costs | 193 | 193 | $ 5,222 | |
Assignment of Butte Valley | 0 | |||
Transfer to BCRC | 0 | |||
Paid by Rio Tinto | (150) | |||
Total additions (disposals) for the year | 43 | 193 | ||
Ending Balance | 1,575 | 1,532 | ||
Singatse Peak Services [Member] | Wassuk [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 1,405 | 1,155 | ||
Acquisition costs | 0 | 250 | ||
Assignment of Butte Valley | 0 | |||
Transfer to BCRC | 0 | |||
Paid by Rio Tinto | 0 | |||
Total additions (disposals) for the year | 0 | 250 | ||
Ending Balance | 1,405 | 1,405 | ||
Lion CG [Member] | Chaco Bear & Ashton [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 0 | 0 | ||
Acquisition costs | 602 | $ 200 | 0 | |
Assignment of Butte Valley | 0 | |||
Transfer to BCRC | 0 | |||
Paid by Rio Tinto | 0 | |||
Total additions (disposals) for the year | 602 | 0 | ||
Ending Balance | 602 | 0 | ||
Quaterra Alaska [Member] | Butte Valley [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 200 | 100 | ||
Acquisition costs | 0 | 100 | ||
Assignment of Butte Valley | (200) | |||
Transfer to BCRC | 0 | |||
Paid by Rio Tinto | 0 | |||
Total additions (disposals) for the year | (200) | 100 | ||
Ending Balance | 0 | 200 | ||
Quaterra Alaska [Member] | Groundhog [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Acquisition costs | 2,839 | |||
Quaterra Alaska [Member] | Blue Copper [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 0 | 0 | ||
Acquisition costs | 118 | 0 | ||
Assignment of Butte Valley | 0 | |||
Transfer to BCRC | (118) | |||
Paid by Rio Tinto | 0 | |||
Total additions (disposals) for the year | 0 | 0 | ||
Ending Balance | 0 | 0 | ||
Blue Copper Resources Corp [Member] | Groundhog [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 0 | 0 | ||
Acquisition costs | 0 | 0 | ||
Assignment of Butte Valley | 0 | |||
Transfer to BCRC | 0 | |||
Paid by Rio Tinto | 0 | |||
Total additions (disposals) for the year | 0 | 0 | ||
Ending Balance | 0 | 0 | ||
Blue Copper Resources Corp [Member] | Blue Copper [Member] | ||||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||||
Beginning Balance | 0 | 0 | ||
Acquisition costs | 500 | 0 | ||
Assignment of Butte Valley | 0 | |||
Transfer to BCRC | 118 | |||
Paid by Rio Tinto | 0 | |||
Total additions (disposals) for the year | 618 | 0 | ||
Ending Balance | $ 618 | $ 0 |
MINERAL PROPERTIES - Schedule_2
MINERAL PROPERTIES - Schedule of exploration expenditures recorded on the statement of loss and comprehensive loss (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | $ 4,302 | $ 3,642 |
Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 597 | 929 |
Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 119 | 231 |
Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 915 | 1,439 |
Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 792 | 185 |
Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 44 | 198 |
Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 172 | 145 |
Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 752 | 288 |
Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 911 | 227 |
Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | (3,086) | |
Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 1,216 | |
Singatse Peak Services [Member] | MacArthur [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 2,061 | 1,689 |
Singatse Peak Services [Member] | MacArthur [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 167 | 159 |
Singatse Peak Services [Member] | MacArthur [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 86 | 231 |
Singatse Peak Services [Member] | MacArthur [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 478 | 892 |
Singatse Peak Services [Member] | MacArthur [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 292 | 43 |
Singatse Peak Services [Member] | MacArthur [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 1 | 22 |
Singatse Peak Services [Member] | MacArthur [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 61 | 20 |
Singatse Peak Services [Member] | MacArthur [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 341 | 276 |
Singatse Peak Services [Member] | MacArthur [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 635 | 46 |
Singatse Peak Services [Member] | MacArthur [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | (1,637) | |
Singatse Peak Services [Member] | MacArthur [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 424 | |
Singatse Peak Services [Member] | Yerington [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 1,451 | 227 |
Singatse Peak Services [Member] | Yerington [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 64 | 69 |
Singatse Peak Services [Member] | Yerington [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 33 | 0 |
Singatse Peak Services [Member] | Yerington [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 437 | 0 |
Singatse Peak Services [Member] | Yerington [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 489 | 142 |
Singatse Peak Services [Member] | Yerington [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Yerington [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 1 | 0 |
Singatse Peak Services [Member] | Yerington [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 411 | 11 |
Singatse Peak Services [Member] | Yerington [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 16 | 5 |
Singatse Peak Services [Member] | Yerington [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | (1,394) | |
Singatse Peak Services [Member] | Yerington [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 57 | |
Singatse Peak Services [Member] | Bear [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 5 | 63 |
Singatse Peak Services [Member] | Bear [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Bear [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Bear [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Bear [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Bear [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Bear [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 5 | 63 |
Singatse Peak Services [Member] | Bear [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Bear [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Bear [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Singatse Peak Services [Member] | Bear [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 5 | |
Singatse Peak Services [Member] | Wassuk [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 55 | 105 |
Singatse Peak Services [Member] | Wassuk [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 55 | 55 |
Singatse Peak Services [Member] | Wassuk [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Wassuk [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 47 |
Singatse Peak Services [Member] | Wassuk [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Wassuk [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Wassuk [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Wassuk [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Singatse Peak Services [Member] | Wassuk [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 3 |
Singatse Peak Services [Member] | Wassuk [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | (55) | |
Singatse Peak Services [Member] | Wassuk [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Lion CG [Member] | Chaco Bear & Ashton [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 18 | 160 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 18 | 160 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Lion CG [Member] | Chaco Bear & Ashton [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 18 | |
Quaterra Alaska [Member] | Groundhog [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 44 | 166 |
Quaterra Alaska [Member] | Groundhog [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 98 |
Quaterra Alaska [Member] | Groundhog [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Groundhog [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Groundhog [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Groundhog [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Groundhog [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Groundhog [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 1 |
Quaterra Alaska [Member] | Groundhog [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 44 | 67 |
Quaterra Alaska [Member] | Groundhog [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Quaterra Alaska [Member] | Groundhog [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 44 | |
Quaterra Alaska [Member] | Butte Valley [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 23 | 753 |
Quaterra Alaska [Member] | Butte Valley [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 2 | 147 |
Quaterra Alaska [Member] | Butte Valley [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Butte Valley [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 500 |
Quaterra Alaska [Member] | Butte Valley [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Butte Valley [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Butte Valley [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 11 | 47 |
Quaterra Alaska [Member] | Butte Valley [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Butte Valley [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 10 | 59 |
Quaterra Alaska [Member] | Butte Valley [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Quaterra Alaska [Member] | Butte Valley [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 23 | |
Quaterra Alaska [Member] | Blue Copper [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 312 | 479 |
Quaterra Alaska [Member] | Blue Copper [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 161 | 401 |
Quaterra Alaska [Member] | Blue Copper [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Blue Copper [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Blue Copper [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 11 | 0 |
Quaterra Alaska [Member] | Blue Copper [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 25 | 16 |
Quaterra Alaska [Member] | Blue Copper [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 59 | 15 |
Quaterra Alaska [Member] | Blue Copper [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | 0 |
Quaterra Alaska [Member] | Blue Copper [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 56 | $ 47 |
Quaterra Alaska [Member] | Blue Copper [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Quaterra Alaska [Member] | Blue Copper [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 312 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 107 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 107 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Groundhog [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 107 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 226 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Property Maintenance [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 41 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Assay & Labs [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Drilling [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Environmental [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Geological & Mapping [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Geophysical Surveys [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 35 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Technical Study [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Field Support [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 150 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Rio Tinto [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | 0 | |
Blue Copper Resources Corp [Member] | Blue Copper [Member] | Lion CG [Member] | ||
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items] | ||
Exploration expenditures | $ 226 |
INVESTMENT IN ASSOCIATE (Narrat
INVESTMENT IN ASSOCIATE (Narrative) (Details) $ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 08, 2022 USD ($) shares | Apr. 05, 2022 shares | Dec. 31, 2022 CAD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Schedule Of Equity Method Investments Line Items | |||||
Share of loss in associate | $ (389) | $ 0 | |||
Falcon Butte Minerals Corp [Member] | |||||
Schedule Of Equity Method Investments Line Items | |||||
Number of shares issued in acquisition of Butte Valley property | shares | 16,049,444 | ||||
Percentage of voting interest acquired in acquisition of Butte Valley property | 25.54% | ||||
Percentage of ownership | 19.44% | 19.44% | |||
Initial investment | $ 2,374 | $ 1,906 | |||
Share of loss in associate | (389) | ||||
Value of investment shares transferred | $ 13 | ||||
Falcon Butte Minerals Corp [Member] | Volatility rate [Member] | |||||
Schedule Of Equity Method Investments Line Items | |||||
Measurement input | 100 | 100 | |||
Falcon Butte Minerals Corp [Member] | Discount rate [Member] | |||||
Schedule Of Equity Method Investments Line Items | |||||
Measurement input | 0.02 | 0.02 | |||
Falcon Butte Minerals Corp [Member] | CEO [Member] | |||||
Schedule Of Equity Method Investments Line Items | |||||
Number of shares transferred | shares | 116,071 | ||||
Value of investment shares transferred | $ 13 | ||||
Gain on transfer of shares | $ 19 |
INVESTMENT IN ASSOCIATE - Sched
INVESTMENT IN ASSOCIATE - Schedule of statement of loss (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Operating expenses | |||
General and administrative expenses | $ 140 | $ 58 | |
Total operating expenses | 3,010 | ||
Gain on settlement of debt | (20) | 0 | |
Foreign exchange (gain) | (13) | (11) | |
Net loss | $ 1,928 | $ 6,448 | |
Falcon Butte Minerals Corp [Member] | |||
Operating expenses | |||
General and administrative expenses | $ 3,313 | ||
Total operating expenses | 3,313 | ||
Gain on settlement of debt | (100) | ||
Fair value loss on derivative liability | 4 | ||
Other income | (1,093) | ||
Foreign exchange (gain) | (396) | ||
Net loss | $ 1,728 |
INVESTMENT IN ASSOCIATE - Sch_2
INVESTMENT IN ASSOCIATE - Schedule of investment in associate (Details) $ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 CAD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Schedule Of Equity Method Investments Line Items | |||
Company's share of net loss | $ (389) | $ 0 | |
Falcon Butte Minerals Corp [Member] | |||
Schedule Of Equity Method Investments Line Items | |||
Balance December 31, 2021 | 0 | ||
Initial investment | $ 2,374 | 1,906 | |
Transfer of shares to the CEO | (13) | ||
Company's share of net loss | (389) | ||
Balance December 31, 2022 | $ 1,504 | $ 0 |
RIO TINTO DEPOSIT (Narrative) (
RIO TINTO DEPOSIT (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
May 15, 2022 | Dec. 31, 2022 | |
Rio Tinto America Inc [Member] | ||
Deposit Liability Line Items | ||
Proceeds received | $ 4,000 | $ 4,000 |
RIO TINTO DEPOSIT - Schedule of
RIO TINTO DEPOSIT - Schedule of Rio Tinto deposit (Details) - USD ($) $ in Thousands | 12 Months Ended | |
May 15, 2022 | Dec. 31, 2022 | |
Deposit Liability Line Items | ||
Balance December 31, 2021 | $ 0 | |
Balance December 31, 2022 | 613 | |
Rio Tinto America Inc [Member] | ||
Deposit Liability Line Items | ||
Balance December 31, 2021 | 0 | |
Proceeds received | $ 4,000 | 4,000 |
Funds applied to capitalized acquisition costs | (150) | |
Funds applied to exploration expenditures | (3,086) | |
Funds applied to general operating expenditures | (151) | |
Balance December 31, 2022 | $ 613 |
NON-CONTROLLING INTEREST (Narra
NON-CONTROLLING INTEREST (Narrative) (Details) - Blue Copper Resources Corp [Member] | 12 Months Ended |
Dec. 31, 2022 shares | |
Noncontrolling Interest [Line Items] | |
Number of shares issued | 57,513,764 |
Ownership interest held by Quaterra Alaska | 79.30% |
NON-CONTROLLING INTEREST - Sche
NON-CONTROLLING INTEREST - Schedule of balance recognized as NCI (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Noncontrolling Interest [Abstract] | ||
Balance December 31, 2021 | $ 0 | |
Preferred stock issued for the Arnold, Snowbird & Montana property | 500 | |
Non-controlling interest | (112) | $ 0 |
Balance December 31, 2022 | $ 388 | $ 0 |
DERIVATIVE LIABILITIES (Narrati
DERIVATIVE LIABILITIES (Narrative) (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Warrants outstanding | $ 0 |
DERIVATIVE LIABILITIES - Schedu
DERIVATIVE LIABILITIES - Schedule of derivative liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Beginning Balance | $ 55 | $ 51 |
Expiry of warrants | (55) | |
Issuance of Warrants | 247 | |
Issuance of convertible debentures with conversion feature | 131 | |
Fair value change on derivative liabilities | (374) | 4 |
Ending Balance | $ 4 | $ 55 |
CONVERTIBLE DEBENTURES (Narrati
CONVERTIBLE DEBENTURES (Narrative) (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||||||||||||||||
Mar. 02, 2023 USD ($) shares | Jul. 08, 2022 USD ($) shares | Oct. 28, 2022 USD ($) | Jun. 17, 2022 USD ($) shares | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Jan. 02, 2024 $ / shares | Jan. 02, 2024 $ / shares | Jul. 08, 2023 $ / shares | Jul. 08, 2023 $ / shares | Jun. 17, 2023 $ / shares | Jun. 17, 2023 $ / shares | Mar. 02, 2023 $ / shares | Mar. 02, 2023 $ / shares | Dec. 31, 2022 $ / shares | Jul. 08, 2022 $ / shares | Jul. 08, 2022 USD ($) $ / shares | Jun. 17, 2022 $ / shares | Jun. 17, 2022 USD ($) $ / shares | Dec. 31, 2021 $ / shares | Dec. 31, 2020 $ / shares | |
Debt Instrument [Line Items] | |||||||||||||||||||||
Proceeds from convertible debt | $ 800 | $ 125 | $ 1,075 | $ 2,000 | $ 0 | ||||||||||||||||
Exercise price | $ / shares | $ 0.09 | $ 0.09 | $ 0.05 | ||||||||||||||||||
Convertible debt [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Proceeds from convertible debt | $ 925 | $ 1,075 | |||||||||||||||||||
Debentures interest rate | 14% | 14% | |||||||||||||||||||
Conversion price per share | (per share) | $ 0.085 | $ 0.067 | $ 0.085 | $ 0.067 | |||||||||||||||||
Number of warrants issued | shares | 13,805,964 | 16,044,774 | |||||||||||||||||||
Exercise price | (per share) | $ 0.085 | $ 0.067 | $ 0.085 | $ 0.067 | |||||||||||||||||
Effective interest rate | 27.90% | ||||||||||||||||||||
Fair value of warrants | $ 104 | $ 143 | |||||||||||||||||||
Fair value of conversion features | $ 54 | $ 77 | |||||||||||||||||||
Fair value allocated to host debt component | $ 767 | $ 855 | |||||||||||||||||||
Convertible debt [Member] | Falcon Butte Minerals Corp. [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Conversion price per share | $ / shares | $ 0.25 | $ 0.25 | |||||||||||||||||||
Convertible debt [Member] | Minimum [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Effective interest rate | 14% | ||||||||||||||||||||
Convertible debt [Member] | Maximum [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Effective interest rate | 27.46% | ||||||||||||||||||||
Convertible debt [Member] | Subsequent event [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Proceeds from convertible debt | $ 1,306 | ||||||||||||||||||||
Debentures interest rate | 14% | 14% | |||||||||||||||||||
Conversion price per share | (per share) | $ 0.1 | $ 0.074 | $ 0.1 | $ 0.078 | $ 0.1 | $ 0.078 | $ 0.095 | $ 0.07 | |||||||||||||
Number of warrants issued | shares | 18,461,015 | ||||||||||||||||||||
Convertible debt [Member] | Subsequent event [Member] | Falcon Butte Minerals Corp. [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||||
Conversion price per share | $ / shares | $ 0.28 |
CONVERTIBLE DEBENTURES Schedule
CONVERTIBLE DEBENTURES Schedule of fair value of the warrants and conversion feature assumptions (Details) | 12 Months Ended |
Dec. 31, 2022 | |
Risk-free interest rate [Member] | Minimum [Member] | |
Debt Instrument [Line Items] | |
Fair value measurement input | 0.032 |
Risk-free interest rate [Member] | Maximum [Member] | |
Debt Instrument [Line Items] | |
Fair value measurement input | 0.0384 |
Expected volatility [Member] | |
Debt Instrument [Line Items] | |
Fair value measurement input | 0.10 |
Dividend yield [Member] | |
Debt Instrument [Line Items] | |
Fair value measurement input | 0 |
Expected life [Member] | Minimum [Member] | |
Debt Instrument [Line Items] | |
Expected life | 1 year 4 months 9 days |
Expected life [Member] | Maximum [Member] | |
Debt Instrument [Line Items] | |
Expected life | 1 year 8 months 1 day |
Warrant [Member] | Risk-free interest rate [Member] | Minimum [Member] | |
Debt Instrument [Line Items] | |
Fair value measurement input | 0.032 |
Warrant [Member] | Risk-free interest rate [Member] | Maximum [Member] | |
Debt Instrument [Line Items] | |
Fair value measurement input | 0.0326 |
Warrant [Member] | Expected volatility [Member] | |
Debt Instrument [Line Items] | |
Fair value measurement input | 0.10 |
Warrant [Member] | Dividend yield [Member] | |
Debt Instrument [Line Items] | |
Fair value measurement input | 0 |
Warrant [Member] | Expected life [Member] | Minimum [Member] | |
Debt Instrument [Line Items] | |
Expected life | 1 year 4 months 9 days |
Warrant [Member] | Expected life [Member] | Maximum [Member] | |
Debt Instrument [Line Items] | |
Expected life | 1 year 8 months 1 day |
CONVERTIBLE DEBENTURES - Schedu
CONVERTIBLE DEBENTURES - Schedule of the Company's convertible debt (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Convertible Debt [Abstract] | |
Beginning Balance | $ 0 |
Issued | 2,000 |
Fair value of conversion feature | (131) |
Fair value of warrants | (247) |
Accretion | 108 |
Interest | 144 |
Ending Balance | $ 1,874 |
SIMPLE AGREEMENT FOR FUTURE E_3
SIMPLE AGREEMENT FOR FUTURE EQUITY (Narrative) (Details) - SAFE Note [Member] - Blue Copper Resources Corp [Member] $ in Thousands | Dec. 31, 2022 USD ($) |
Party 1 [Member] | |
Short-Term Debt [Line Items] | |
Face value of raised fund | $ 198 |
Valuation cap | 1,450 |
Party 2 [Member] | |
Short-Term Debt [Line Items] | |
Face value of raised fund | 569 |
Valuation cap | $ 4,120 |
SIMPLE AGREEMENT FOR FUTURE E_4
SIMPLE AGREEMENT FOR FUTURE EQUITY - Schedule of SAFE notes (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Debt Disclosure [Abstract] | |
Beginning Balance | $ 0 |
Issued | 767 |
Loss on change in fair value of SAFE notes | 364 |
Closing Balance | $ 1,131 |
SHARE CAPITAL (Narrative) (Deta
SHARE CAPITAL (Narrative) (Details) $ / shares in Units, $ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||
Jul. 05, 2022 USD ($) shares | Oct. 14, 2021 $ / shares shares | Sep. 13, 2021 $ / shares | Sep. 13, 2021 USD ($) shares | Aug. 23, 2022 USD ($) shares | Jul. 28, 2022 USD ($) shares | Jun. 29, 2022 USD ($) shares | Apr. 25, 2022 USD ($) shares | Mar. 17, 2022 USD ($) shares | Feb. 17, 2022 USD ($) shares | Oct. 21, 2021 $ / shares | Oct. 21, 2021 USD ($) shares | Sep. 27, 2021 $ / shares | Sep. 27, 2021 USD ($) shares | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) shares | Dec. 31, 2022 $ / shares | Apr. 25, 2022 CAD ($) | Apr. 25, 2022 USD ($) | Dec. 31, 2021 $ / shares | Oct. 14, 2021 USD ($) | Dec. 31, 2020 $ / shares | |
Class of Stock [Line Items] | ||||||||||||||||||||||
Number of shares issued in closing of Blue Copper Prospect transaction | shares | 1,500,000 | |||||||||||||||||||||
Value of shares issued in closing of Blue Copper Prospect transaction | $ 119 | |||||||||||||||||||||
Value of common shares issued as part of the option agreement with Houston Minerals Ltd. | $ 625 | |||||||||||||||||||||
Number of common shares issued in settlement of debt | shares | 1,212,121 | 915,910 | 800,000 | |||||||||||||||||||
Value of common shares issued in settlement of debt. | $ 75 | $ 49 | $ 56 | |||||||||||||||||||
Debt outstanding, amount | 77 | 61 | $ 80 | $ 62 | ||||||||||||||||||
Gain on settlement of debt | $ 2 | $ 12 | $ 6 | |||||||||||||||||||
Number of common shares issued in exercise of warrants | shares | 2,000,000 | |||||||||||||||||||||
Proceeds from warrant exercises | $ 100 | |||||||||||||||||||||
Number of common shares issued in release of restricted share units | shares | 1,333,333 | |||||||||||||||||||||
Value of common shares issued in release of restricted share units | $ 93 | |||||||||||||||||||||
Number of restricted stock units released | shares | 1,333,333 | |||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 0.09 | $ 0.09 | $ 0.05 | |||||||||||||||||||
Amount raised in the private placement | $ 0 | $ 4,128 | ||||||||||||||||||||
Number of common shares issued in exercise of options and warrants | shares | 5,885,000 | |||||||||||||||||||||
Proceeds from exercise of options and warrants | $ 323 | |||||||||||||||||||||
Chaco and Ashton Properties [Member] | ||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||
Number of common shares issued as part of the option agreement with Houston Minerals Ltd. | shares | 8,000,000 | |||||||||||||||||||||
Value of common shares issued as part of the option agreement with Houston Minerals Ltd. | $ 506 | |||||||||||||||||||||
Ownership interest acquired | 100% | |||||||||||||||||||||
First tranche of a non-broker Private Placement [Member] | ||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||
Gross proceeds of closing of tranche of non broker private placement | $ 1,566 | |||||||||||||||||||||
Number of units issued in tranche of non broker private placement | shares | 26,105,833 | |||||||||||||||||||||
Price per unit of units issued in tranche of non broker private placement | $ / shares | $ 0.06 | |||||||||||||||||||||
Payment on completion of tranche of private placement | $ 23 | |||||||||||||||||||||
Number of finders warrants issued as finders fees | shares | 382,900 | |||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 0.1 | |||||||||||||||||||||
Exercise period of warrants from the date of closing | 3 years | |||||||||||||||||||||
Second tranche of a non-broker Private Placement [Member] | ||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||
Gross proceeds of closing of tranche of non broker private placement | $ 772 | |||||||||||||||||||||
Number of units issued in tranche of non broker private placement | shares | 12,863,669 | |||||||||||||||||||||
Price per unit of units issued in tranche of non broker private placement | $ / shares | $ 0.06 | |||||||||||||||||||||
Payment on completion of tranche of private placement | $ 17 | |||||||||||||||||||||
Number of finders warrants issued as finders fees | shares | 289,240 | |||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 0.1 | |||||||||||||||||||||
Exercise period of warrants from the date of closing | 3 years | |||||||||||||||||||||
Third and final tranche of a non-broker Private Placement [Member] | ||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||
Number of units issued in tranche of non broker private placement | shares | 29,832,834 | |||||||||||||||||||||
Price per unit of units issued in tranche of non broker private placement | $ / shares | $ 0.06 | |||||||||||||||||||||
Gross proceeds from units issued | $ 1,790 | |||||||||||||||||||||
Payment on completion of tranche of private placement | $ 110 | |||||||||||||||||||||
Number of finders warrants issued as finders fees | shares | 1,839,798 | |||||||||||||||||||||
Exercise price of warrants | $ / shares | $ 0.1 | |||||||||||||||||||||
Exercise period of warrants from the date of closing | 3 years | |||||||||||||||||||||
Manex Resource Group Inc [Member] | ||||||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||||||
Number of common shares issued in settlement of debt | shares | 403,665 | |||||||||||||||||||||
Debt outstanding, amount | $ 27 | |||||||||||||||||||||
Market price per share | $ / shares | $ 0.0825 |
ADDITIONAL PAID-IN CAPITAL (Nar
ADDITIONAL PAID-IN CAPITAL (Narrative) (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||||||
Jul. 08, 2022 $ / shares | Jul. 08, 2022 USD ($) $ / shares shares | Jun. 03, 2022 shares | Oct. 28, 2022 $ / shares | Oct. 28, 2022 USD ($) $ / shares shares | Aug. 18, 2022 $ / shares shares | Jun. 29, 2022 USD ($) $ / shares shares | Jun. 17, 2022 $ / shares | Jun. 17, 2022 USD ($) $ / shares shares | May 25, 2022 $ / shares shares | Dec. 31, 2022 $ / shares shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 $ / shares | Dec. 31, 2021 USD ($) shares | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||||
Percentage of number of common shares issued and outstanding | 10% | |||||||||||||
Number of options granted | 2,394,283 | 9,000,000 | 11,394,283 | 12,900,000 | ||||||||||
Exercise price of options granted | $ / shares | $ 0.072 | $ 0.085 | $ 0.08 | $ 0.16 | ||||||||||
Share-based payments | $ | $ 918 | $ 1,077 | ||||||||||||
Number of warrants granted | 11,940,293 | 1,865,671 | 16,044,774 | 29,850,738 | 71,314,274 | |||||||||
Exercise price of warrants granted | (per share) | $ 0.085 | $ 0.067 | $ 0.085 | $ 0.067 | $ 0.085 | $ 0.067 | 0.067 | 0.1 | ||||||
Proceeds from convertible debt | $ | $ 800 | $ 125 | $ 1,075 | $ 2,000 | $ 0 | |||||||||
Number of warrants exercised | 2,000,000 | 2,000,000 | 1,000,000 | |||||||||||
Exercise price of warrants exercised | (per share) | $ 0.05 | $ 0.05 | $ 0.05 | |||||||||||
Proceeds from warrant exercises | $ | $ 100 | |||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||||
Share-based payments | $ | $ 255 | $ 0 | ||||||||||||
Number of RSUs issued | 8,000,000 | |||||||||||||
Number of RSUs released | 1,333,333 | 1,333,333 | ||||||||||||
Number of RSUs cancelled | 1,333,333 | 1,333,333 | ||||||||||||
Restricted Stock Units (RSUs) [Member] | 2021 Restricted Share Unit Plan [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||||
Number of shares reserved for issuance | 30,330,661 | 30,330,661 | ||||||||||||
Restricted Stock Units (RSUs) [Member] | CEO and President/CFO [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||||
Number of RSUs issued | 8,000,000 | |||||||||||||
Restricted Stock Units (RSUs) [Member] | CEO and President/CFO [Member] | Tranche one [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||||
Vesting percentage | 33.33% | |||||||||||||
Restricted Stock Units (RSUs) [Member] | CEO and President/CFO [Member] | Tranche two [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||||
Vesting percentage | 33.33% | |||||||||||||
Restricted Stock Units (RSUs) [Member] | CEO and President/CFO [Member] | Tranche three [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||||||||||||||
Vesting percentage | 33% |
ADDITIONAL PAID-IN CAPITAL - Sc
ADDITIONAL PAID-IN CAPITAL - Schedule of number of stock options issued and outstanding (Details) - $ / shares | 1 Months Ended | 12 Months Ended | ||
Aug. 18, 2022 | May 25, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward] | ||||
Number of options, beginning balance | 19,915,000 | 14,690,000 | ||
Number of options, Granted | 2,394,283 | 9,000,000 | 11,394,283 | 12,900,000 |
Number of options, Expired | (1,695,000) | (275,000) | ||
Number of options, Cancelled | 0 | (2,515,000) | ||
Number of options, Exercised | 0 | (4,885,000) | ||
Number of options, ending balance | 29,614,283 | 19,915,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||
Weighted average exercise price, beginning balance | $ 0.12 | $ 0.08 | ||
Weighted average exercise price, Granted | $ 0.072 | $ 0.085 | 0.08 | 0.16 |
Weighted average exercise price, Expired | 0.1 | 0.65 | ||
Weighted average exercise price, Cancelled | 0 | 0.15 | ||
Weighted average exercise price, Exercised | 0 | 0.07 | ||
Weighted average exercise price, beginning balance | $ 0.11 | $ 0.12 |
ADDITIONAL PAID-IN CAPITAL - _2
ADDITIONAL PAID-IN CAPITAL - Schedule of number of stock options outstanding and exercisable (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Number of options outstanding | 29,614,283 | 19,915,000 |
Number of options exercisable | 29,614,283 | 13,102,500 |
June 23, 2022 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.1 | |
Number of options outstanding | 1,695,000 | |
Remaining contractual life in years | 5 months 23 days | |
Number of options exercisable | 1,695,000 | |
September 20, 2023 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.06 | $ 0.06 |
Number of options outstanding | 1,470,000 | 1,470,000 |
Remaining contractual life in years | 8 months 19 days | 1 year 8 months 19 days |
Number of options exercisable | 1,470,000 | 1,470,000 |
June 21, 2024 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.07 | $ 0.07 |
Number of options outstanding | 1,900,000 | 1,900,000 |
Remaining contractual life in years | 1 year 5 months 19 days | 2 years 5 months 19 days |
Number of options exercisable | 1,900,000 | 1,900,000 |
August 8, 2024 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.06 | $ 0.06 |
Number of options outstanding | 500,000 | 500,000 |
Remaining contractual life in years | 1 year 7 months 9 days | 2 years 7 months 9 days |
Number of options exercisable | 500,000 | 500,000 |
June 20, 2025 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.08 | $ 0.08 |
Number of options outstanding | 2,450,000 | 2,450,000 |
Remaining contractual life in years | 2 years 5 months 19 days | 3 years 5 months 19 days |
Number of options exercisable | 2,450,000 | 2,450,000 |
August 18, 2025 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.072 | |
Number of options outstanding | 2,394,283 | |
Remaining contractual life in years | 2 years 7 months 17 days | |
Number of options exercisable | 2,394,283 | |
June 18, 2026 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.25 | $ 0.25 |
Number of options outstanding | 3,950,000 | 3,950,000 |
Remaining contractual life in years | 3 years 5 months 19 days | 4 years 5 months 19 days |
Number of options exercisable | 3,950,000 | 1,975,000 |
September 17, 2026 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.11 | $ 0.11 |
Number of options outstanding | 4,500,000 | 4,500,000 |
Remaining contractual life in years | 3 years 8 months 19 days | 4 years 8 months 19 days |
Number of options exercisable | 4,500,000 | 2,250,000 |
October 21, 2026 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.09 | $ 0.09 |
Number of options outstanding | 2,700,000 | 2,700,000 |
Remaining contractual life in years | 3 years 9 months 21 days | 4 years 9 months 21 days |
Number of options exercisable | 2,700,000 | 675,000 |
December 12, 2026 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.12 | $ 0.12 |
Number of options outstanding | 750,000 | 750,000 |
Remaining contractual life in years | 3 years 11 months 12 days | 4 years 11 months 12 days |
Number of options exercisable | 750,000 | 187,500 |
May 25, 2027 [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Exercise price | $ 0.085 | |
Number of options outstanding | 9,000,000 | |
Remaining contractual life in years | 4 years 4 months 24 days | |
Number of options exercisable | 9,000,000 |
ADDITIONAL PAID-IN CAPITAL - _3
ADDITIONAL PAID-IN CAPITAL - Schedule of weighted average assumptions (Details) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Expected life (years) | 5 years | |
Forfeiture rate | 0% | 0% |
Dividend yield | 0% | 0% |
Minimum [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Risk-free interest rate | 2.58% | 0.97% |
Expected life (years) | 3 years | |
Annualized volatility | 147% | 101% |
Maximum [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Risk-free interest rate | 3.28% | 1.33% |
Expected life (years) | 5 years | |
Annualized volatility | 150% | 107% |
ADDITIONAL PAID-IN CAPITAL - _4
ADDITIONAL PAID-IN CAPITAL - Schedule of number of share purchase warrants outstanding (Details) | 1 Months Ended | 12 Months Ended | |||||||
Jul. 08, 2022 $ / shares shares | Jul. 08, 2022 $ / shares shares | Oct. 28, 2022 $ / shares shares | Oct. 28, 2022 $ / shares shares | Jun. 29, 2022 $ / shares shares | Jun. 17, 2022 $ / shares shares | Jun. 17, 2022 $ / shares shares | Dec. 31, 2022 $ / shares shares | Dec. 31, 2021 $ / shares shares | |
Class Of Warrant Or Right, Outstanding [Rollforward] | |||||||||
Number of warrants, beginning balance | 83,083,504 | 12,769,230 | |||||||
Number of warrants, Issued | 11,940,293 | 11,940,293 | 1,865,671 | 1,865,671 | 16,044,774 | 16,044,774 | 29,850,738 | 71,314,274 | |
Number of warrants, Exercised | (2,000,000) | (2,000,000) | (1,000,000) | ||||||
Number of warrants, Expired | (9,769,230) | 0 | |||||||
Number of warrants, ending balance | 101,165,012 | 83,083,504 | |||||||
Class Of Warrant Or Right, Exercise Price Of Warrants Or Rights [Roll Forward] | |||||||||
Weighted average exercise price, beginning balance | $ / shares | $ 0.09 | $ 0.05 | |||||||
Weighted average exercise price, Issued | (per share) | $ 0.085 | $ 0.067 | $ 0.085 | $ 0.067 | $ 0.085 | $ 0.067 | 0.067 | 0.1 | |
Weighted average exercise price, Exercised | (per share) | $ 0.05 | 0.05 | 0.05 | ||||||
Weighted average exercise price, Expired | $ / shares | 0.05 | 0 | |||||||
Weighted average exercise price, ending balance | $ / shares | $ 0.09 | $ 0.09 |
ADDITIONAL PAID-IN CAPITAL - _5
ADDITIONAL PAID-IN CAPITAL - Schedule of warrants outstanding (Details) | Dec. 31, 2022 $ / shares shares | Dec. 31, 2022 $ / shares shares | Dec. 31, 2021 $ / shares shares | Dec. 31, 2021 $ / shares shares | Dec. 31, 2020 $ / shares shares |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Exercise price | $ / shares | $ 0.09 | $ 0.09 | $ 0.05 | ||
Number of warrants outstanding | shares | 101,165,012 | 101,165,012 | 83,083,504 | 83,083,504 | 12,769,230 |
August 28, 2022 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Exercise price | $ / shares | $ 0.05 | $ 0.05 | |||
Number of warrants outstanding | shares | 0 | 0 | 11,000,000 | 11,000,000 | |
September 20, 2022 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Exercise price | $ / shares | $ 0.065 | $ 0.065 | |||
Number of warrants outstanding | shares | 0 | 0 | 769,230 | 769,230 | |
September 13, 2024 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Exercise price | $ / shares | $ 0.1 | $ 0.1 | |||
Number of warrants outstanding | shares | 26,488,733 | 26,488,733 | 26,488,733 | 26,488,733 | |
September 27, 2024 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Exercise price | $ / shares | $ 0.1 | $ 0.1 | |||
Number of warrants outstanding | shares | 13,152,909 | 13,152,909 | 13,152,909 | 13,152,909 | |
October 21, 2024 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Exercise price | $ / shares | $ 0.1 | $ 0.1 | |||
Number of warrants outstanding | shares | 31,672,632 | 31,672,632 | 31,672,632 | 31,672,632 | |
February 17, 2024 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Exercise price | $ / shares | $ 0.067 | $ 0.067 | |||
Number of warrants outstanding | shares | 16,044,774 | 16,044,774 | 0 | 0 | |
March 8, 2024 [Member] | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||||
Exercise price | $ / shares | $ 0.067 | $ 0.067 | |||
Number of warrants outstanding | shares | 13,805,964 | 13,805,964 | 0 | 0 |
ADDITIONAL PAID-IN CAPITAL - _6
ADDITIONAL PAID-IN CAPITAL - Schedule of number of RSUs issued and outstanding (Details) - Restricted Stock Units (RSUs) [Member] - shares | 12 Months Ended | |
Jun. 03, 2022 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||
Number of RSUs outstanding, beginning balance | 0 | |
Number of RSUs Granted | 8,000,000 | |
Number of RSUs Released | (1,333,333) | (1,333,333) |
Number of RSUs Cancelled | (1,333,333) | (1,333,333) |
Number of RSUs outstanding, ending balance | 5,333,334 |
RELATED PARTY TRANSACTIONS (Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) | 1 Months Ended | 12 Months Ended | ||||||||||||||||
Mar. 02, 2023 $ / shares shares | Nov. 01, 2022 USD ($) $ / shares | Jun. 03, 2022 shares | Jun. 02, 2022 shares | Apr. 13, 2022 USD ($) $ / shares | Apr. 13, 2022 USD ($) | Apr. 05, 2022 USD ($) shares | Aug. 18, 2022 $ / shares shares | Jun. 29, 2022 USD ($) $ / shares shares | May 25, 2022 $ / shares shares | May 18, 2022 shares | Oct. 21, 2021 shares | Dec. 31, 2022 $ / shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 $ / shares | Dec. 31, 2021 USD ($) shares | Feb. 01, 2023 USD ($) | Dec. 31, 2022 USD ($) $ / shares | |
Related Party Transaction [Line Items] | ||||||||||||||||||
Gain on sale of Butte Valley property | $ 2,207,000 | $ 0 | ||||||||||||||||
Number of options granted | shares | 2,394,283 | 9,000,000 | 11,394,283 | 12,900,000 | ||||||||||||||
Exercise price of options granted | $ / shares | $ 0.072 | $ 0.085 | $ 0.08 | $ 0.16 | ||||||||||||||
Weighted average exercise price exercised | (per share) | $ 0.05 | 0.05 | $ 0.05 | |||||||||||||||
Proceeds from warrant exercises | $ 100,000 | |||||||||||||||||
Falcon Butte [Member] | Butte Valley [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of shares received | shares | 16,049,444 | |||||||||||||||||
Payment received for reimbursement of exploration expenditures and related costs | $ 500,000 | |||||||||||||||||
Gain on sale of Butte Valley property | $ 2,207,000 | |||||||||||||||||
Amount payable in exchange for buy-down percentage and retirement of NSR | $ 500,000 | $ 500,000 | ||||||||||||||||
Percentage of buy-down and Net Smelter Return retirement | 0.50% | 0.50% | ||||||||||||||||
Amount received from related party | $ 500,000 | |||||||||||||||||
Subsequent Event [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of options granted | shares | 350,000 | |||||||||||||||||
Exercise price of options granted | $ / shares | $ 0.095 | |||||||||||||||||
CEO and President/CFO [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of options granted | shares | 3,300,000 | |||||||||||||||||
Exercise price of options granted | $ / shares | $ 0.085 | |||||||||||||||||
CEO and President/CFO [Member] | Restricted Share Units [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of RSUs issued | shares | 8,000,000 | 4,000,000 | 4,000,000 | |||||||||||||||
CEO and President/CFO [Member] | Minimum [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Annual base compensation percentage | 50% | |||||||||||||||||
Exercise price of options granted | $ / shares | $ 0.05 | |||||||||||||||||
CEO and President/CFO [Member] | Maximum [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Annual base compensation percentage | 150% | |||||||||||||||||
CFO [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of options granted | shares | 1,470,000 | |||||||||||||||||
CEO [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of options granted | shares | 1,830,000 | |||||||||||||||||
Remuneration | $ 250,000 | $ 228,333,000 | ||||||||||||||||
Prepaid expenses | $ 10,833,000 | |||||||||||||||||
CEO [Member] | Falcon Butte [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Percentage of salary to be paid in shares | 52% | |||||||||||||||||
Maximum deemed price per share | $ / shares | $ 0.28 | |||||||||||||||||
Annual salary converted to Falcon Butte shares | $ 32,500 | |||||||||||||||||
Compensation paid in shares | $ 21,667,000 | |||||||||||||||||
CEO [Member] | Blue Copper Resources Corp [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Value of lease mineral property | 500,000 | |||||||||||||||||
CEO [Member] | Subsequent Event [Member] | Falcon Butte [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Annual salary converted to Falcon Butte shares | $ 32,500 | |||||||||||||||||
CEO [Member] | Restricted Share Units [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of RSUs released | shares | 1,333,333 | |||||||||||||||||
President/CFO [Member] | Restricted Share Units [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of RSUs cancelled | shares | 1,333,333 | |||||||||||||||||
Directors [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of warrants exercised | shares | 2,000,000 | |||||||||||||||||
Weighted average exercise price exercised | $ / shares | $ 0.05 | |||||||||||||||||
Proceeds from warrant exercises | $ 100,000 | |||||||||||||||||
Unsecured convertible debentures | $ 250,000 | |||||||||||||||||
Debentures interest rate | 14% | |||||||||||||||||
Accrued interest on convertible debentures | $ 19,000 | |||||||||||||||||
Directors [Member] | May 25, 2027 [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of options granted | shares | 3,500,000 | |||||||||||||||||
Exercise price of options granted | $ / shares | $ 0.067 | |||||||||||||||||
Directors [Member] | Expiry date August 18, 2025 [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Number of options granted | shares | 957,713 | |||||||||||||||||
Exercise price of options granted | $ / shares | $ 0.055 | |||||||||||||||||
Directors [Member] | Conversion price until June 17, 2023 [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Conversion price per share | (per share) | 0.085 | $ 0.067 | ||||||||||||||||
Directors [Member] | Conversion price after June 17, 2023 [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Conversion price per share | (per share) | 0.1 | $ 0.078 | ||||||||||||||||
Directors and Officers [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Remuneration | $ 504,000 | $ 491,000 | ||||||||||||||||
Unsecured convertible debentures | $ 500,000 | |||||||||||||||||
Debentures interest rate | 14% | |||||||||||||||||
Accrued interest on convertible debentures | $ 34,000 | |||||||||||||||||
Directors and Officers [Member] | Conversion price until July 8, 2023 [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Conversion price per share | (per share) | 0.085 | $ 0.067 | ||||||||||||||||
Directors and Officers [Member] | Conversion price after July 8, 2023 [Member] | ||||||||||||||||||
Related Party Transaction [Line Items] | ||||||||||||||||||
Conversion price per share | (per share) | $ 0.1 | $ 0.078 |
RELATED PARTY TRANSACTIONS - Sc
RELATED PARTY TRANSACTIONS - Schedule of directors and officers remuneration (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Related Party Transaction [Line Items] | ||
Interest on convertible debenture | $ 144 | |
Directors and Officers [Member] | ||
Related Party Transaction [Line Items] | ||
Salaries | 504 | $ 491 |
Directors' fees | 13 | 6 |
Share-based payments | 904 | 504 |
Interest on convertible debenture | 53 | 0 |
Total remuneration | $ 1,474 | $ 1,001 |
SEGMENTED INFORMATION - Schedul
SEGMENTED INFORMATION - Schedule of geographic segment information (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Jan. 01, 2021 | Dec. 31, 2020 |
Segment Reporting Information [Line Items] | ||||
Mineral properties | $ 7,884 | $ 6,821 | $ 6,278 | $ 6,278 |
Canada [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Mineral properties | 602 | 0 | ||
USA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Mineral properties | $ 7,282 | $ 6,821 |
DEFERRED INCOME TAX (Narrative)
DEFERRED INCOME TAX (Narrative) (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Income Tax Disclosure [Abstract] | |
Unused capital losses | $ 15,680 |
DEFERRED INCOME TAX - Schedule
DEFERRED INCOME TAX - Schedule of reconciliation of income tax provision (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Tax loss for the year | $ (1,928) | $ (6,448) |
Canadian statutory rate | 27% | 27% |
Income tax benefit computed at statutory rates | $ (520) | $ (1,741) |
Adjustment for foreign tax rates | 313 | 148 |
Provision to return adjustments and other | (235) | 0 |
Share issuance costs | 0 | (98) |
Foreign exchange gains and losses | 580 | (34) |
Permanent difference | 324 | 190 |
Change in valuation allowance | (462) | 1,535 |
Income tax expense (recovery) | $ 0 | $ 0 |
DEFERRED INCOME TAX - Schedu_2
DEFERRED INCOME TAX - Schedule of tax effect of temporary differences (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred tax assets: | ||
Non-capital loss and net operating loss carryforward | $ 8,934 | $ 9,414 |
Mineral properties | 7,536 | 7,304 |
Capital losses | 2,117 | 2,313 |
Financing and other | 56 | 77 |
SAFE notes | 76 | 0 |
Total gross deferred tax assets | 18,719 | 19,108 |
Less: valuation allowance | (18,646) | (19,108) |
Net deferred tax assets | 73 | 0 |
Deferred tax liabilities: | ||
Convertible debentures | (73) | 0 |
Total deferred tax liabilities | (73) | 0 |
Deferred tax assets and liabilities | $ 0 | $ 0 |
DEFERRED INCOME TAX - Schedule
DEFERRED INCOME TAX - Schedule of unused tax losses expire (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | $ 15,680 |
Canada [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 21,921 |
Canada [Member] | 2026 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 508 |
Canada [Member] | 2027 - 2042 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 21,413 |
Canada [Member] | 2034 - 2037 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 0 |
Canada [Member] | Indefinite [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 0 |
US [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 14,358 |
US [Member] | 2026 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 0 |
US [Member] | 2027 - 2042 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 0 |
US [Member] | 2034 - 2037 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | 11,779 |
US [Member] | Indefinite [Member] | |
Operating Loss Carryforwards [Line Items] | |
Unused capital losses | $ 2,579 |
SUBSEQUENT EVENTS (Narrative) (
SUBSEQUENT EVENTS (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Mar. 02, 2023 $ / shares | Mar. 02, 2023 USD ($) $ / shares shares | Jan. 13, 2023 USD ($) | Jul. 08, 2022 $ / shares | Jul. 08, 2022 USD ($) $ / shares shares | Jan. 31, 2023 USD ($) | Oct. 28, 2022 $ / shares | Oct. 28, 2022 USD ($) $ / shares | Aug. 18, 2022 $ / shares shares | Jun. 17, 2022 $ / shares | Jun. 17, 2022 USD ($) $ / shares shares | May 25, 2022 $ / shares shares | Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 $ / shares | Dec. 31, 2021 USD ($) shares | Jan. 02, 2024 $ / shares | Jan. 02, 2024 $ / shares | Jul. 08, 2023 $ / shares | Jul. 08, 2023 $ / shares | Jun. 17, 2023 $ / shares | Jun. 17, 2023 $ / shares | Mar. 02, 2023 USD ($) $ / shares | Jul. 08, 2022 $ / shares | Jun. 17, 2022 $ / shares | |
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Number of options granted | shares | 2,394,283 | 9,000,000 | 11,394,283 | 12,900,000 | |||||||||||||||||||||
Exercise price of options granted | $ / shares | $ 0.072 | $ 0.085 | $ 0.08 | $ 0.16 | |||||||||||||||||||||
Proceeds from convertible debt | $ 800,000 | $ 125,000 | $ 1,075,000 | $ 2,000,000 | $ 0 | ||||||||||||||||||||
Exercise price of warrants granted | (per share) | $ 0.085 | $ 0.067 | $ 0.085 | $ 0.067 | $ 0.085 | $ 0.067 | $ 0.067 | $ 0.1 | |||||||||||||||||
Amount raised in the private placement | 0 | $ 4,128,000 | |||||||||||||||||||||||
Convertible debt [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Proceeds from convertible debt | $ 925,000 | $ 1,075,000 | |||||||||||||||||||||||
Debentures interest rate | 14% | 14% | 14% | 14% | |||||||||||||||||||||
Conversion price per share | (per share) | $ 0.085 | $ 0.085 | $ 0.067 | $ 0.067 | |||||||||||||||||||||
Number of warrants issued | shares | 13,805,964 | 16,044,774 | |||||||||||||||||||||||
Convertible debt [Member] | Falcon Butte Minerals Corp. [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Conversion price per share | $ / shares | $ 0.25 | $ 0.25 | |||||||||||||||||||||||
Blue Copper Resources Corp [Member] | SAFE Note [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Face value of raised fund | $ 767,500 | $ 767,500 | |||||||||||||||||||||||
Subsequent event [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Number of options granted | shares | 350,000 | ||||||||||||||||||||||||
Exercise price of options granted | $ / shares | $ 0.095 | ||||||||||||||||||||||||
Subsequent event [Member] | Rio Tinto [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Advance payment | $ 7,500,000 | ||||||||||||||||||||||||
Subsequent event [Member] | Rio Tinto [Member] | Work program stage two [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Advance payment | 5,000,000 | ||||||||||||||||||||||||
Subsequent event [Member] | Rio Tinto [Member] | Work program stage three [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Advance payment | $ 2,500,000 | ||||||||||||||||||||||||
Subsequent event [Member] | Convertible debt [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Proceeds from convertible debt | $ 1,306,000 | ||||||||||||||||||||||||
Debentures interest rate | 14% | ||||||||||||||||||||||||
Conversion price per share | (per share) | 0.095 | $ 0.1 | $ 0.074 | $ 0.1 | $ 0.078 | $ 0.1 | $ 0.078 | $ 0.07 | |||||||||||||||||
Number of warrants issued | shares | 18,461,015 | ||||||||||||||||||||||||
Exercise price of warrants granted | (per share) | $ 0.095 | $ 0.07 | |||||||||||||||||||||||
Subsequent event [Member] | Convertible debt [Member] | Falcon Butte Minerals Corp. [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Conversion price per share | $ / shares | 0.28 | ||||||||||||||||||||||||
Subsequent event [Member] | Blue Copper Resources Corp [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Exercise price of warrants granted | $ / shares | $ 0.15 | ||||||||||||||||||||||||
Amount raised in the private placement | $ 2,000,000 | ||||||||||||||||||||||||
Number of units issued | shares | 23,809,524 | ||||||||||||||||||||||||
Share price per share | $ / shares | $ 0.084 | ||||||||||||||||||||||||
Subsequent event [Member] | Blue Copper Resources Corp [Member] | Lion CG [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Ownership interest held by Lion CG | 48.80% | ||||||||||||||||||||||||
Subsequent event [Member] | Blue Copper Resources Corp [Member] | SAFE Note [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Face value of raised fund | $ 100,000 | ||||||||||||||||||||||||
Debt conversion amount | $ 867,500 | ||||||||||||||||||||||||
Number of shares issued in exchange debt converted | shares | 21,629,386 | ||||||||||||||||||||||||
Subsequent event [Member] | Chaco Bear & Ashton [Member] | |||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||
Maintenance fees | $ 100,000 |